financial truth guiding principles from g od’s wor...

Financial TruthGuiding Principles from God’s Word

by Terry Austin

Produced by theOffice of Personal Stewardship

Church Health and Growth SectionBaptist General Convention of Texas

<www.churchstewardship.org>

Subsidized by the Cooperative ProgramCopyright 2001

Financial Truth: Guiding Principles from God’s Word

Table of Contents

Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . page 5

Chapter 1: Financial Success . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . page 7

Chapter 2: Foundational Principles . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . page 17

Chapter 3: Giving Principles . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . page 27

Chapter 4: Living Principles (part 1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . page 37

Chapter 5: Living Principles (part 2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . page 49

Chapter 6: Growing Principles . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . page 59

Appendix . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . page 67

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INTRODUCTIONI met Karen one Sunday morning while greeting people at the end of the morning worship service. I was the

guest preacher and she was a regular attendee. She posed a question that I had never been asked before and

it led to a fascinating conversation. My sermon had been on the subject of tithing and we had also discussed

other financial principles found in God’s Word.

Karen asked if God’s principles apply to non-Christians as well as Christians. She especially wanted to

know if they applied to atheists. I responded that since they were God’s principles, they were universal. In

other words, they are effective for everyone, regardless of their belief.

She then told me that she was an atheist, having been taught by her parents that there was no god. I was

somewhat shocked because I do not recall ever having a conversation with a professed atheist while standing

in a church building. I asked Karen why she was at church. She said that she came to church because her two

daughters wanted to attend and she did not want them to go alone.

The most intriguing part of the conversation was when she told me that my sermon on the tithe caused

her to mentally calculate how much she had put in the offering plate. She took my words seriously and

refigured her offering to increase it to a tenth. Now she wanted to know if she could anticipate blessings.

O b v i o u s l y, in spite of her claims, Karen is not truly an atheist. She is searching for truth. However, what

is fascinating to me is that a non-believer would respond so quickly and obediently to God’s truth about

finances. Talk about money did not drive her away. Quite to the contrary, it seemed to draw her into a deeper

interest about God and her spiritual needs.

Teaching money management in churches for more than a decade has been a very rewarding

experience. I am constantly amazed at the spiritual impact of the financial principles from God’s Wo r d .

Lives have been changed, not because of my work, but because of the power of divine truth.

It is very common to hear senior adults make one of two different comments at some point during a

money management seminar. Many will say, “I wish I had learned these principles 40 years ago.” W h e n e v e r

we learn truth it is common to regret that we did not learn it sooner. A second comment is, “I wish my

children/grandchildren would have been here today.” Many times they will take a workbook to share with

the younger generation.

“Financial Truth: Guiding Principles from God’s Wo r d” has been developed to help those who have

not been able to attend one of the seminars. However, it is also a good resource for those who have

experienced the seminar, but wish further teaching and help with personal finances. The material is designed

to be used in a small group study or by an individual.

When you finish this study you should have accomplished two goals. First, you will have a better

understanding of the biblical teaching on stewardship. This is important because stewardship affects every

aspect of our lives. Every activity of life requires time, energ y, money, or talent. Using these resources

faithfully is the very definition of stewardship.

A second consequence of this study is that you will develop a financial plan for success. By the time

you close the book you should have the resources in place to be faithful with the financial resources

entrusted to you by God.

Stewardship is a lifelong journey and it is my prayer that “Financial Truth: Guiding Principles from

G o d ’s Wo r d ” will be an important resource as you make the trip. Perhaps you are just starting the journey,

like my new friend Karen or you might have already traveled far down the road. Whatever your situation,

God’s Word will have fresh insights to guide your way.

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CHAPTER ONEFinancial Success

Success can be an elusive goal, especially if we do not really have an adequate definition. If we were to ask

people to list those who have been financially successful, names such as Trump, Gates, Perot, Walton, and

Turner would appear most often. The one common denominator among these financial leaders is that they

are all wealthy. Therefore, the logical conclusion is that wealth is a prerequisite for financial success.

H o w e v e r, we must not forget that God’s standards are seldom the same as ours. Our definition of

financial success may not come close to His perspective. For example, the only person commended by Jesus

for giving an offering was the poor widow.

And He looked up and saw the rich putting their gifts into the treasury. And He saw a poor widow

putting in two small copper coins. And He said, “Truly I say to you, this poor widow put in more

than all of them; for they all out of their surplus put into the offering; but she out of her poverty

put in all that she had to live on” (Luke 21:1-4).

This woman had very little, in fact, after the offering, she had nothing. Yet, it is safe to say that she was

a financial success in God’s estimation.

We can also assert that the Apostle Paul did not have many worldly possessions. He spent most of his

adult life sleeping in prison cells and fleeing hostile crowds. He was certainly not a wealthy man. Even Jesus

had no money. He offers the following as a personal financial statement:

And Jesus said to him, “The foxes have holes and the birds of the air have nests, but the Son of

Man has nowhere to lay His head” (Luke 9:58).

When He was crucified He did not even own a change of clothing. It would be a fair assessment to say

that both Paul and Jesus were financially successful, in spite of their apparent poverty.

On the other end of the spectrum is King David. When the offering was taken to construct the temple,

David shared from his personal wealth.

Then King David said to the entire assembly, “My son Solomon, whom alone God has chosen, is

still young and inexperienced and the work is great; for the temple is not for man, but for the

LORD God. Now with all my ability I have provided for the house of my God the gold for the

things of gold, and the silver for the things of silver, and the bronze for the things of bronze, the

iron for the things of iron, and wood for the things of wood, onyx stones and inlaid stones, stones

of antimony and stones of various colors, and all kinds of precious stones and alabaster in

abundance. Moreover, in my delight in the house of my God, the treasure I have of gold and silver,

I give to the house of my God, over and above


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all that I have already provided for the holy temple, namely, 3,000 talents of gold, of the gold of

Ophir, and 7,000 talents of refined silver, to overlay the walls of the buildings; of gold for the

things of gold and of silver for the things of silver, that is, for all the work done by the craftsmen.

Who then is willing to consecrate himself this day to the LORD?” (1 Chronicles 29:1-5).

One talent was equivalent to approximately 80 pounds. Thus, David gave 240,000 pounds of gold and

560,000 pounds of refined silver. It is difficult to be totally accurate, but in today’s terms, his offering is

valued at several billion dollars.

D a v i d ’s son Solomon was one of the wealthiest men who ever lived. Everyone would say that both of

these men were financially successful. Many other biblical characters, both rich and poor as well as middle

class, could be labeled as successful.

Although the amount of money is the determining factor for success from a human perspective, from

God’s perspective amounts do not matter. He is not impressed that Bill Gates has a net worth of $80 billion.

We can be successful and have a lot of money or we can be a failure and have a lot of money. It is equally

true that we can be successful and have very little money or be a failure and have very little money.

The amount of money in our bank account does not make us a success or a failure in God’s opinion.

The important issue for Him is stewardship. In order to be successful as a steward we must use our money,

regardless of the amount, in a way that is pleasing to God.

Therefore, the important issue concerns God’s will — “How does God want me to use money?” T h e r e

is a tremendous amount of information in the Bible concerning money to help us answer this question. In

fact, God has provided financial principles that can guide us toward success.

Biblical PrinciplesThe Bible does not have commandments of money management. There are no “Thou shalt not’s…” when it

comes to using money. Instead, God has given us principles. There is an important distinction between a

principle and a commandment.

A commandment is essentially a law, a rule that must be followed. To break the commandment or

violate the law means that there must be punishment. For example, God issues the commandment, “ Yo u

shall not murd e r ” (Exodus 20:13). The person who violates this commandment should be prepared to forfeit

his/her own life (see Numbers 35:16-31).

Principles are not laws but rather statements of how God’s world operates. When God reveals a

principle He is saying, “This is how I created the world. If you arrange your life according to these principles

then you will enjoy success. If you chose to ignore these principles you will suffer consequences.”

Principles do not carry punishment. When we violate one of God’s principles He does not punish us.

Instead, we simply suffer consequences. God has no desire to punish us or for us to suffer consequences. He

has given the principles so that we can experience blessing. If you are struggling financially then it is

probably because you are living in violation of one or more of God’s principles.


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As a reminder, let me say again that living according to the principles will not necessarily make us

w e a l t h y. Remember that we are the ones pursuing wealth, not God. The blessings that come from the

principles are not always financial abundance.

Arranging our lives according to the principles puts us in a position to be blessed by God. The type and

extent of that blessing will be determined by God, not by the world’s standards. From personal experience, I

can testify that God’s blessings far exceed what the world is seeking. You will not be disappointed when you

experience His blessings.

Our study consists of twelve principles. This is certainly not an exhaustive list of all that are found in

G o d ’s Word. These twelve principles are categorized into four types. The purpose of the division is simply

to assist explanation and memory.

• Foundational Principles These two principles serve as the foundation for all other financial principles. It is imperative to

understand and live according to the Foundational Principles or all other principles will seem foolish.

• Giving PrinciplesThese principles outline God’s plan of giving as outlined throughout the Bible, from beginning to end.

The health of our relationship with God will be determined by our faithfulness to these three principles.

• Living PrinciplesNumerous financial principles guide us in making lifestyle choices. We have chosen five that contribute

to our spiritual development and maturity.

• Growing PrinciplesThe two Growing Principles provide opportunities for us to invest in the future and for all eternity. T h e y

allow us to accumulate “heavenly treasures.”

The following diagram of the Stewardship Cross illustrates how the four types of principles help us

relate to our world. The Foundational Principles serve as the foundation for our lives. The Giving Principles

allow us to reach up in relationship with God. The Living Principles guide us in reaching out to the world

around us. Finally, the Growing Principles help us reach forward into the future.


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The Stewardship Cross

FOUNDATIONALPrinciples

LIVINGPrinciples

GROWINGPrinciples

GIVINGPrinciples


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The following table also provides insight to the principles and how they help us relate to God and the

world.

STEWARDSHIP PRINCIPLES

Notice that the two Foundational Principles reveal the proper role of money in our lives. They are captured

in the words of Jesus when He said, “ You cannot serve both God and wealth” (Matthew 6:24). A r r a n g i n g

our lives according to these principles allows God to have the proper role in our lives.

Principles

Purpose of theprinciples

Revealed by theprinciples

Benefit produced bythe principles

Scripture thatexpresses the

principles

Practicaldemonstration of the

principles

• Principle ofownership

• Principle ofaffection

Salvation

The proper role ofmoney in our lives

Spiritual life

Psalm 24:1Matthew 6:24

• Money does notdictatethoughts andactions

• Seek God’sdirection beforeusing money

• Principle of thetithe

• Principle ofgrace giving

• Principle ofbenevolence

Worship

How moneyconnects us to

God

Financial blessing

Malachi 3:7-122 Cor. 8:1-9

Proverbs 19:17

• Give a minimumof a tithe to thechurch

• Frequently givesacrificially

• Respond to theneeds of others

• Principle ofcontentment

• Principle of work• Principle of

honesty• Principle of

saving• Principle of debt

Faithfulness

How moneyconnects us to

the world

Spiritualdevelopment

Matthew 25:14-30

• Satisfied withGod’s provisions

• Faithful anddiligent worker

• Reputation ofhonesty

• Careful in usingmoney

• Wise use ofdebt

• Principle ofplanning (for thefuture)

• Principle ofeternity

Service

How moneyprepares us for

the future

Heavenlytreasures

Matthew 6:19-20

• Money investedin people

• Live for eternityrather thaninstantgratification

Type of principle Foundational Giving Living Growing

The purpose of the Foundational Principles is to allow us to experience salvation. This will become

clear when we study the encounter between Jesus and the rich ruler (see Luke 18:18-23).

The Giving Principles connect us to God through worship. These three principles define God’s plan of

giving and how money can be a tool to connect us to God and His work. Just as the Foundational Principles

provide spiritual life, the giving principles offer financial blessing.

Producing faithfulness is the purpose of the Living Principles. They reveal how money connects us to

the world. When implemented, these principles can bring about spiritual growth and development. T h e

Living Principles are the truths that will put us in a position to hear, “ Well done, good and faithful slave”

(Matthew 25:21,23).

Finally, the Growing Principles explain how money can be used to prepare us for the future. They are a

practical expression of Jesus’admonition in the Sermon on the Mount.

“Do not store up for yourselves treasures on earth, where moth and rust destroy, and where

thieves break in and steal. But store up for yourselves treasures in heaven, where neither moth nor

rust destroys, and where thieves do not break in or steal; for where your treasure is, there your

heart will be also” (Matthew 6:19-21).

The two Growing Principles will guide us to make decisions that lead to service of our Lord.

Each of the twelve principles will produce practical demonstrations that provide evidence of our

commitment. In other words, God’s principles will make a difference in the way we live our lives. T h e

tragedy is that many Christians do not experience a significant difference because they have arranged their

lives according to worldly principles.

A recent survey by the Barna organization uncovered the similarity between Christians and non-

Christians. One-third of Christians admit that it is impossible for them to get ahead because of their debt

load. Fifty-one percent of Christians (compared to 54% of non-Christians) say that money is the main

symbol of success in life.

Income also seems to be a predictor of contentment. Eighty-one percent of those who earn more than

$50k say they are financially comfortable but the percent shrinks to sixty-three for those who earn between

$25k and $50k. In other words, satisfaction for many Christians is dependent upon income. (Source

<www.barna.org>)

From my own experience I have discovered that Christians have the same problems and concerns with

debt, lack of savings, excessive lifestyles, and pursuit of possessions as do non-Christians. The reason that

we fail to enjoy divine blessings is because we choose to live according to worldly standards.

The reason may be a lack of commitment on the part of Christians, which is probably true in some

cases. However, I believe that a greater reason is widespread ignorance about stewardship among believers.


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I have worked with hundreds of pastors and churches, teaching money management, helping with fund-

raising and putting together church budgets. Frequently, church members will lament the fact that they have

never had a pastor teach them the basic principles of money found in God’s Word. It is not uncommon to

hear pastors themselves admit that they do not talk about money. The result is two or three generations of

Christians who have never been taught God’s truth concerning money.

“Financial Truth: Guiding Principles from God’s Word” has been written to address this great need

within the church. The truths that are described on these pages can put you in a position to experience God’s

blessings. The benefits are more than financial. Because God’s truth is timeless, these principles can change

your relationship to God and to others for all eternity.


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PRACTICAL PLAN

Building our finances around biblical principles is the first step toward financial success. However, it is not

enough to simply know the principles. We must implement the principles. Therefore, it is imperative to have

a plan that will allow us to be financially successful.

Many effective plans have been developed. Almost every plan will work but the problem is that we do

not work the plan. Most families, at one time or another, take a pencil and paper and develop a family

budget. They might even stick to it for a few months. However, if they are not diligent and committed to the

plan, the budget soon becomes lost in a desk drawer.

One of the major problems is that we adopt a plan that is too complex or time consuming. When a

person does not even want to take the time to balance the checkbook each month, they will probably not stay

faithful to a complex budget plan.

I have never met a family that lives according to a budget that has financial problems. The reason is

simple — they have a plan and live according to the plan. A budget is simply a plan for accomplishing

financial goals. If we will work the plan we will experience success.

The financial plan for “Financial Truth: Guiding Principles from God’s Wo r d ” is called the

“10-70-20 Plan.” It is a plan that allows you to implement the biblical principles yet it is simple enough so

that you do not become discouraged.

The following three steps define the process of setting up a family budget using the “10-70-20 Plan.”

The worksheet at the end of this chapter can be used to calculate your current situation.

Step 1: Calculate your “Total Income”“ Total Income” includes all sources of family income. For some families it is only one salary. Other

families have numerous sources of income such as extra jobs, investment income, child-support, etc.

Many families have irregular income because of sales commissions, seasonal work, or other factors. In

that situation, it is best to make an estimate of your monthly income based on past averages. It is usually

wise to make the estimate a little lower than the average to prevent the development of a budget that is too

costly. It is better to have more money than the budget requires than to have less.

Step 2: Determine your “Working Income”Once you have calculated your “Total Income” you are ready to determine your “Working Income.”

This is a very important figure because this is the money that you actually get to spend. If you base the

family budget on “Total Income” it will not work because only a portion of that money is actually available.

In order to calculate your “Working Income,” take your “Total Income” and subtract two items:

• Subtract the titheThe tithe is 10% of your “Total Income.” (See Chapter 3 for a complete discussion of the tithe.)


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• Subtract taxes To determine the amount of taxes that you pay you can either look at your pay stubs to see what is

being deducted from your paycheck or look at your tax return from the previous year.

The reason we subtract these two items at the beginning is because we do not get to make decisions

about these items. They are predetermined. God determines the tithe and government determines the

taxes.

Once you subtract your tithe and taxes from the “Total Income” the remaining amount is called

“ Working Income.” This number is important because you get to make decisions concerning this

money.

Step 3: Divide into categories

The “10-70-20 Plan” calls for you to divide your “Working Income” into three categories. This is why it is

called the “10-70-20 Plan.” In fact, if you can remember these three numbers you will never forget the plan.

♦ Savings – 10%Ten percent of your “Working Income” should be put into a savings account that serves two

purposes. First, it allows you to develop an emergency fund so that you can respond to unexpected

needs without having to grab a credit card. Second, it will provide cash so that you can make major

purchases that are not in the family budget. (Saving will be discussed in detail in Chapter 5.)

♦ Living – 70%Many families adopt a lifestyle that requires more than their income will allow. The result is

increasing debt and a great deal of stress. Only the Federal Government, not your family, can live

beyond its means for a long period of time. The “10-70-20 Plan” calls for a lifestyle that can be funded

with 70% of the “Working Income.” This category includes all of the day-to-day living expenses of the

f a m i l y. Unless you are in extreme poverty, you can live on 70% of your “Working Income.” You may

not be able to live the same lifestyle that you currently enjoy and it may require some difficult decisions.

H o w e v e r, you can be confident that any decision that you make today to get your finances under control

will pay dividends in the future. (The specifics of this category will be discussed in Chapter 4 and 5.)

♦ Debt/Future Planning – 20%The final category is for debt repayment or if there are no debts then for future planning. Twenty

percent will allow a family to get out of debt in a reasonable amount of time. It is also the maximum that

most families can afford to spend on debt without making it difficult to fund savings and living

expenses. Once your debt is eliminated then 20% of your “Working Income” is available to help you

accomplish your long-term financial goals. (Debt and long-term financial goals will be discussed in

Chapters 5 and 6.)


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The “10-70-20 Plan” is a very practical plan that has helped thousands of families become better

stewards. When you learn God’s principles and then live according to an effective plan you will discover the

blessing of stewardship. Although it certainly offers financial rewards, perhaps the greatest blessings are the

spiritual variety that have a value that far exceeds money.

“The 10-70-20 Plan”Worksheet

Step 1: Calculate your “Total Income”

Husband’s Income $ ___________________

Wife’s Income $ ___________________

Investment Income ADD $ ___________________

Additional Employment $ ___________________

Other $ ___________________

TOTAL INCOME $ ___________________

Step 2: Determine your “Working Income”

Subtract the following

Tithe (10%) of “Total Income” SUBTRACT $ ___________________

Taxes $ ___________________

WORKING INCOME $ ___________________

Step 3: Divide into three categories

Savings – 10% of “Working Income” $ ___________________

Living – 70% of “Working Income” $ ___________________

Debt/Future Planning – 20% of “Working Income” $ ___________________


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CHAPTER TWOFoundational Principles

The two Foundational Principles of Ownership and A ffection provide meaning and effectiveness to all the

other principles. In other words, if you struggle with either one of these truths then all of the other principles

will cause you great difficulties.

The Foundational Principles express the proper role of money in our lives. It has been tempting for

Christians to take extreme positions in their attitude toward money. Some are of the opinion that money is a

necessary evil. Using a faulty translation of 1 Timothy 6:10, they preach that money, rather than the love of

money, is the root of all evil.

On the other end of the spectrum are those who advocate that God wants His people to be rich. T h e y

proclaim a gospel of wealth. If a Christian will simply trust in God and claim God’s promises then the

inevitable result is prosperity.

Neither of these positions is an accurate reflection of God’s Word. The truth is that money does play an

important role in our lives. In fact, Jesus spoke about money on numerous occasions. He understood how

important it is to us and He sought to make the truth clear.

H o w e v e r, in spite of the importance of money in our lives, we must be careful that it does not occupy

too high of a position. Our spiritual life is dependent upon getting this relationship in its proper perspective.

God’s Word is very clear that understanding these principles is evidence of salvation.

A certain ruler asked him, “Good teacher, what must I do to inherit eternal life?” “Why do

you call me good?” Jesus answered. “No one is good—except God alone. You know the

commandments: ’Do not commit adultery, do not murder, do not steal, do not give false testimony,

honor your father and mother.’”

“All these I have kept since I was a boy,” he said.

When Jesus heard this, he said to him, “You still lack one thing. Sell everything you have and

give to the poor, and you will have treasure in heaven. Then come, follow me.”

When he heard this, he became very sad, because he was a man of great wealth (Luke 18:18-23).

This encounter between Jesus and the wealthy young man is very insightful. This man had all the proper

credentials. He is identified as a “ruler” which indicates that he was either a leader in the local synagogue or

perhaps a member of the Jewish Sanhedrin, the high court. In either situation he had demonstrated his ability

to live according to God’s Law as expressed in Jewish traditions. He also claimed to have kept the

commandments of God “since I was a boy.” In other words, he was a morally pure person.


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This young man was also very sincere when he came to Jesus. He addressed Jesus as, “Good teacher. ”

The term was not a casual reference, but seemed to indicate that he saw in Jesus something inherently good,

something of God. This is confirmed by Jesus’ response when He said, “No one is good, except God alone.”

He understood that Jesus was a man of God, one who would likely have the answer to his most important

question, “What must I do to inherit eternal life?”

Jesus’reply to the question of salvation is somewhat startling. He told the young man, who had already

done everything imaginable in order to be saved, to give away all his possessions and follow the Savior. T h i s

answer seems so contrary to how we normally present the Gospel. We would be more inclined to lead him

through the “Four Spiritual Laws,” or perhaps recite the “Roman Road to Salvation” verses.

Yet, Jesus knew that salvation had eluded this young ruler because he had committed his life to another

god. In order to be saved it was necessary to get rid of the false god in his life and commit his life to the true

Savior — Jesus. The false god for this man was money.

The story comes to a tragic conclusion: “When he heard this, he became very sad, because he was a

man of great wealth.” He was unwilling to give up his fortune, his god, in order to be saved. This rich young

ruler from the first century teaches us the danger of loving money. Allowing money to have the wrong place

in his life meant that he could not experience salvation.

The Foundational Principles allow us to remove the power of this false god called money from our lives

so that we are open to salvation. Once we arrange our lives according to these principles, we are prepared to

experience successful stewardship.

Principle of OwnershipOwnership is a very important position. The financial benefits of owning rather than renting a residence are

significant. In most situations it is more beneficial to own a vehicle than to lease. We prefer to be owners if

it is at all possible.

The spiritual danger is that we actually believe than we can become owners of material possessions. T h e

truth of Scripture is that we can never own anything because God is the owner of all.

The earth is the LORD’S, and everything in it,

the world, and all who live in it (Psalm 24:1).

This is a difficult concept to grasp because we constantly receive the opposite message. When the bank

sends a statement of accounts we are reminded that our name is listed as the account holder. We also find our

name on the title to the car or deed to the house. Even as young children we were taught to put our name on

our things.

With all of these messages we are tempted to forget that we do not actually own anything, it all belongs

to God. Once we start to live and act as owners, then we have ceased to be stewards. The term “steward”

simply means the manager of someone else’s property.


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God provided a unique command to His people in the Old Testament to help them remember the truth

of His ownership. It was called the Year of Jubilee. At the completion of seven sabbath years (49 years), on

the fiftieth year, all of the land was to revert to its original owner.

You are also to count off seven sabbaths of years for yourself, seven times seven years, so that you

have the time of the seven sabbaths of years, namely, forty-nine years. You shall then sound a

ram’s horn abroad on the tenth day of the seventh month; on the day of atonement you shall sound

a horn all through your land. You shall thus consecrate the fiftieth year and proclaim a release

through the land to all its inhabitants. It shall be a jubilee for you, and each of you shall return to

his own property, and each of you shall return to his family. You shall have the fiftieth year as a

jubilee; you shall not sow, nor reap its aftergrowth, nor gather in from its untrimmed vines. For it

is a jubilee; it shall be holy to you. You shall eat its crops out of the field (Leviticus 25:8-11).

The purpose of this Jubilee year was not only to level out the economic playing field, but also to remind

everyone that they did not really own anything. It all belongs to God.

In the financial realm, God’s Word is very clear about the issue of ownership. In Haggai 2:8 we are told

that God owns all the silver and all the gold. There is no need to worry that He will ever be short of

resources. If it were possible for Him to be short of money then He could simply create more.

Although it might seem that owner is a much better position than manager, there are some definite

advantages to the fact that God owns everything.

• We are free from the burden of making ownership decisions.Recognition of God’s ownership means that I am not required to make the difficult decisions. I do not

have the responsibility of making ownership decisions but to simply follow the will of God. He

decides and I obey. It is liberating to know that we are not responsible for the operation of the

universe.

• We are free from worry about taking care of things.My family lived in a rent house for several years. One summer, during a typical hot, Texas, August day,

the air conditioner stopped running. It was only a matter of hours before the house became intolerably

hot. It was very comforting to call the landlord and advise him of the problem rather than having to pay

for the repairs myself.

The fact that God is the owner means that He is also responsible for taking care of His stuff. This does

not mean that we are to be careless with God’s world, just as our family was not careless with the landlord’s

house; however, it does mean that when there is a problem or a need, it is God’s problem to solve. There is

no need to worry about these problems because God is in control.


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For this reason I say to you, do not be worried about your life, as to what you will eat or what you will

drink; nor for your body, as to what you will put on. Is not life more than food, and the body more than

clothing? Look at the birds of the air, that they do not sow, nor reap nor gather into barns, and yet

your heavenly Father feeds them. Are you not worth much more than they? And who of you by being

worried can add a single hour to his life? And why are you worried about clothing? Observe how the

lilies of the field grow; they do not toil nor do they spin, yet I say to you that not even Solomon in all

his glory clothed himself like one of these. But if God so clothes the grass of the field, which is alive

today and tomorrow is thrown into the furnace, will He not much more clothe you? You of little faith!

Do not worry then, saying, ’What will we eat?’or ’What will we drink?’or ’What will we wear for

clothing?’For the Gentiles eagerly seek all these things; for your heavenly Father knows that you need

all these things. (Matthew 6:25-32)

• We are free from the need to accumulate.Once we recognize that God is the owner of all things we are set free from the compulsion to

accumulate more things. Why should we bother when it can never really belong to us? It will always be

G o d ’s and whether He chooses to allow us to manage a large amount or a small amount should not be

our concern.

• We are free to share with others.Since possessions belong to God and not us then we are able to transfer them to other people when the

need arises. In other words, when I encounter someone who needs what is in my possession, I am free

to share because it is not mine to own.

Recognition of God’s ownership makes it possible to live as a faithful steward. Awareness of this truth

constantly leads us to seek God’s direction in using His money. When we realize that we are not following

divine guidance in financial matters it is probably an indication that we have taken over the responsibility of

ownership.

Many of the financial problems that consume our time and energy are really ownership problems.

F r e q u e n t l y, we try to solve problems that are the owner’s responsibility. Our responsibility ends with

management and God has given a great deal of direction for fulfilling this task.

Principle of AffectionIn the Sermon on the Mount Jesus defined the principle of affection with these familiar words:

No one can serve two masters; for either he will hate the one and love the other, or he will be

devoted to one and despise the other. You cannot serve God and wealth (Matthew 6:24).

Notice that Jesus did not say that it is difficult to serve both God and Money — He clearly states that it

is impossible to serve both. Therefore, we must make a conscious choice not to give our devotion to money.


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The biblical understanding of love is that we can choose to love. We are commanded to love our

enemies (Luke 6:35), our neighbor (Matthew 6:19), and the Lord (Matthew 22:37). If love were not a choice

then it could not be a command.

Loving money is a direct result of serving money. Jesus taught that we set our affection on money when

we invest our life in money and material possessions — for where your treasure is, there your heart will be

also (Matthew 6:21).

The person who devotes time and energy to accumulating possessions will soon discover that money

and possessions have their heart.

• Loving Money

Now there was a rich man, and he habitually dressed in purple and fine linen, joyously living in

splendor every day. And a poor man named Lazarus was laid at his gate, covered with sores, and

longing to be fed with the crumbs which were falling from the rich man’s table; besides, even the

dogs were coming and licking his sores. Now the poor man died and was carried away by the

angels to Abraham’s bosom; and the rich man also died and was buried. In Hades he lifted up his

eyes, being in torment, and saw Abraham far away and Lazarus in his bosom. And he cried out

and said, ’Father Abraham, have mercy on me, and send Lazarus so that he may dip the tip of his

finger in water and cool off my tongue, for I am in agony in this flame.’ But Abraham said, ’Child,

remember that during your life you received your good things, and likewise Lazarus bad things;

but now he is being comforted here, and you are in agony. And besides all this, between us and

you there is a great chasm fixed, so that those who wish to come over from here to you will not be

able, and that none may cross over from there to us’ (Luke 16:19-26).

Jesus told this story about the rich man who died and went to hell and the poor man (Lazarus) who died

and went to heaven. The context is very important to understanding the story. Jesus was speaking to… t h e

Pharisees, who were lov e rs of money ( v.14). The story is told to those who love money. Therefore, the

meaning of the story deals with loving money.

Notice the qualities of the rich man in Jesus’ s t o r y. First, he lived very flamboyantly. We are told that h e

habitually dressed in purple and fine linen, joyously living in splendor every day ( v.19). He wore the most

expensive clothing and indulged in a very elaborate lifestyle. In today’s terms we would say that he wore

designer fashions and dined at the most expensive restaurants. It was not just on special occasions, but it was

every day.

Second, we note that he also lived very callously. The other character in the story is Lazarus. He is

described as poor, covered with sores, hungry, begging for crumbs, and homeless. He was so destitute that

the only living creatures who paid him any attention were the neighborhood dogs who would come and lick

his sores. This pitiful beggar was located outside the gate of the rich man. This meant that every time he

entered or left his house, there was Lazarus. When he dressed in his finest for the evening, he had to pass by

Lazarus on the way out. His heart was very callous toward another person.


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F i n a l l y, notice that he not only lived selfishly but he also died selfishly. When the rich man died and

found himself in hell, his prayer was, have mercy on me, and send Lazarus so that he may dip the tip of his

fi n ger in water and cool off my tongue, for I am in agony in this flame. His thoughts were still focused on

himself and his personal comforts. He wanted Lazarus to serve him. Even death did not change his

selfishness.

This wealthy man demonstrates the destructive power of money. It confirms the words of 1 Timothy 6:10

— For the love of money is a root of all sorts of ev i l. When money becomes our god it can have a grip on our

lives that not only keeps us from living faithfully but also causes us to suffer eternally.

• Losing Money

Though the fig tree should not blossom

And there be no fruit on the vines,

Though the yield of the olive should fail

And the fields produce no food,

Though the flock should be cut off from the fold

And there be no cattle in the stalls,

Yet I will exult in the LORD,

I will rejoice in the God of my salvation.

The Lord GOD is my strength,

And He has made my feet like hinds’feet,

And makes me walk on my high places. (Habakkuk 3:17-19)

The prophet Habakkuk wrote these words more than 2,600 years ago; yet, they still jump off the page

and catch our attention. It is a message that is much needed today because of the uncertainty of the economy.

These ancient words are a timeless message about how to rejoice in the loss of money.

Because no one knows with certainty what our economic future will be, it is important to learn this

truth. Habakkuk provides a formula that allows us to rejoice in the midst of economic suffering. It is a

formula that works because it is based on the truth about the danger of loving money.

On one day, Bill Gates of Microsoft Corp. lost more than $12 billion from his personal fortune as the

value of his company stock lost 14 per cent. At the time he owned 785 million shares of stock in Microsoft

and the paper loss at the height of the tailspin was $4.7 million per second.

Contrary to some popular theology, God does not promise that His people are exempt from suff e r i n g .

Habakkuk begins by discussing the possibility of losing everything. His list of figs, grapes and olives spoke

of the most important exports for the nation. The loss of all three would have a devastating economic impact.

To lose the grain would result in famine, which was always a fear of ancient man. To lose the livestock;

sheep and cattle, would also mean the loss of milk, wool, and meat. The prophet painted a very bleak

picture.


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The biblical truth is that God’s people are not exempt from suffering. Many of God’s finest servants

have suffered. Joseph was sold into slavery and then was left to die in an Egyptian dungeon. David suffered

because of the rebellion of his sons. Job went from riches to rags. Stephen, when he was stoned, became the

first Christian martyr. The Apostle Paul was beaten, imprisoned, rejected, and abused.

S u ffering is redemptive. We learn much more from the loss of money than from great wealth. No one,

regardless of his or her bank account, can be assured of wealth tomorrow.

Just a few years after Habakkuk spoke these words, the Babylonians marched through Judah and

literally raped the land. Not one thing of monetary value was left behind. Circumstances often make it

necessary for us to learn how to rejoice in times of suffering.

Prior to the experience of suffering, Habakkuk made a commitment that made it possible for him to

rejoice. He said, Yet I will exult in the LORD. A commitment is simply an agreement or a pledge to do

something in the future. We constantly make commitments, i.e. borrow money, get married, join an

o rganization. We also make commitments to God. That is essentially the definition of salvation —

committing ourselves to God.

Habakkuk’s commitment was that if he should lose everything he would still rejoice in the Lord. When

the time of trouble came, there was no decision to be made. He did not have to choose whether to stick with

God or not. That decision had already been made.

Commitments make life less complicated and decisions easier. Every Christian should make the

commitment that if and when financial problems come, not to complain or worry. Instead, we will remain

faithful and continue praising God.

In order to be effective, a commitment must be based upon truth. Habakkuk stated two truths that

enable us to make this commitment. First, God is our salvation (v.18b). Our salvation is only as secure as our

god. If our trust is in gold then it is subject to loss. However, if God is our savior then it does not matter if we

have gold, we still have salvation.

The second truth is that God is our strength (v.19). It is God who has made my feet like hinds’feet. The

image is of a deer, a sure-footed animal on rocky slopes. This is a picture of strength and stability. God also

m a kes me walk on my high places, which is an image of being exalted or lifted up. Habakkuk’s

circumstances indicated despair, yet, in truth, God was lifting him to the heights. He could overcome

insurmountable odds and climb inaccessible heights because the Lord was his strength.

Happiness is not dependent upon prosperity. Only after we are committed to rejoicing in God can we be

assured of victory in the loss of possessions.

The two foundational principles reveal the proper role that money plays in our lives. Money does not

save us nor does it assure us of happiness. It is a resource to be used for God’s glory under God’s direction.

Once we submit to these principles by following God rather than gold, the result will be spiritual life and

health.


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PRACTICAL EXERCISEThe practical exercises for this chapter will guide you to consider the role of money in your life.

♦ Evaluate current spending practicesIn order to determine where we are going it is often necessary to see where we have been. This is

especially true in the financial realm. As a means of examining priorities it is important to study your

spending habits. Using canceled checks, receipts, bank statements, records, etc., make a thorough

evaluation of your expenses for the past three months using the following worksheet:

MONTHLYHousing

Rent/Mortgage $

Insurance $

Utilities $

Gas/Electric $

Water $

Phone (house & mobile) $

Maintenance $

Furnishings $

Property Taxes $

Food & Household $

Clothing $

TransportationCar Payment (1) * $

Insurance $

Gas $

Maintenance & Repairs $

Medical Expenses Insurance $

Doctor $

Dentist $

Medicine $

Recreation Monthly Activities $

Vacations $

Personal Allowances $

Education $


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Gifts Birthdays $

Christmas $

Special Occasions $

InsuranceLife $

Disability $

Miscellaneous $

TOTAL $

* It is difficult for most families to carry more than one car payment in the Living Expense section. If that is

your situation, you will need to put additional car payments in the Debt section.

• Determine if you are a financial success:

What does your spending say about your affections?

What does your spending reveal about your priorities?


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CHAPTER THREEGiving Principles

We have a tendency to criticize traditions. It is easy to forget that rituals became traditions because they were

e ffective at one time. Many of the traditions of the church began as meaningful practices. The problem

occurs when the ritual loses its meaning and becomes nothing more than a habit.

The solution to meaningless rituals may be to cast them aside and replace them with new rituals that

will soon become traditions. Another approach is to recapture the original meaning of the ritual so that the

ancient tradition is given new life.

Passing the offering plate during a worship service is one of those traditions that many are willing to

throw away. It is disturbing that one of the trends within the church is to remove the offering from the

worship experience. This “out-of-date” practice is being replaced with a variety of options. Some churches

place a collection box in the foyer for those who would like to give an offering. A more technological

approach is to set up a bank draft so the money is automatically transferred from the church member’s bank

to the church account. Some churches now accept all major credit cards.

The reason for the new approach to Christian giving is a desire to be less offensive to the modern non-

b e l i e v e r. I certainly agree that the church should strive to be relevant and tactful. (Being non-offensive is not

always possible because the Gospel itself is foolishness to those who do not believe, according to

1 Corinthians 1:18). However, giving an offering to God is not offensive. Even the most quarrelsome pagan

can understand the desire of a believer to offer something to God.

Giving an offering is not the problem. Fund-raising is what non-believers, and many believers as well,

find offensive. Once the offering is removed from the context of worship, then it is reduced to fund-raising

and bill paying. From the beginning, worship and giving have been inseparable.

God instructed His people not to appear before Him empty-handed (see Exodus 23:15; 34:20;

Deuteronomy 16:16). The entire worship system of the Old Testament was built around the sacrifices and

offerings of the worshipper. Giving was at the heart of worship.

When Jacob had a dream in which he encountered the Lord it was truly a worship experience. God

spoke to him in a way that forever changed his life.

Then Jacob departed from Beersheba and went toward Haran. He came to a certain place and

spent the night there, because the sun had set; and he took one of the stones of the place and put it

under his head, and lay down in that place. He had a dream, and behold, a ladder was set on the

earth with its top reaching to heaven; and behold, the angels of God were ascending and

descending on it. And behold, the LORD stood above it and said, “I am the LORD, the God of

your father Abraham and the God of Isaac; the land on which you lie, I will give it to you and to

your descendants. Your descendants will also be like the dust of the earth, and you will spread out

to the west and to the east and to the north and to the south; and in you and in your descendants


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shall all the families of the earth be blessed. Behold, I am with you and will keep you wherever

you go, and will bring you back to this land; for I will not leave you until I have done what I have

promised you.” Then Jacob awoke from his sleep and said, “Surely the LORD is in this place, and

I did not know it.” He was afraid and said, “How awesome is this place! This is none other than

the house of God, and this is the gate of heaven.”So Jacob rose early in the morning, and took the

stone that he had put under his head and set it up as a pillar and poured oil on its top. He called

the name of that place Bethel; however, previously the name of the city had been Luz. Then Jacob

made a vow, saying, “If God will be with me and will keep me on this journey that I take, and will

give me food to eat and garments to wear, and I return to my father’s house in safety, then the

LORD will be my God. This stone, which I have set up as a pillar, will be God’s house, and of all

that You give me I will surely give a tenth to You” (Genesis 28:10-22).

In response to this worship experience, Jacob set up a monument as a reminder of his divine encounter.

The next thing he did was to give a tithe to God.

Worship and giving are inseparable. Once we encounter God it is only natural that we give an offering.

It is important to understand the sequence. It is always the worship that produces the offering. Giving the

o ffering does not produce worship but is the consequence of worship. In other words, we cannot buy our

way into God’s presence like we would purchase a theater ticket.

Worship is not complete until there has been some tangible response on the part of the worshipper.

When Isaiah was overwhelmed with the presence of God in worship his offering was to give himself —

“Here am I. Send me!” (Isaiah 6:8). When Zacchaeus first met Jesus and he experienced the grace of God he

…stood up and said to the Lord, ’Look, Lord! Here and now I give half of my possessions to the poor, and if

I have cheated anybody out of anything, I will pay back four times the amount (Luke 19:8). Meeting God

prompted giving.

Once we comprehend that giving is an expression of worship then it is removed from accusations of

legalism. When God revealed His plan of giving He was simply teaching us how to worship. God’s plan of

giving is an explanation of how money connects us to God.

G o d ’s plan of giving is very simple and consistent. There has always been one plan, from the opening

pages of Scripture until today. However, that plan has three elements. It is like a three-legged stool. In order

to be balanced in our giving we must practice all three elements. The three principles of giving explain the

three elements within God’s giving plan.

Principle of the TitheThe principle of the tithe declares that a tenth of everything belongs uniquely to God and it is to be returned

to Him in worship. We have already discovered under the Principle of Ownership that God owns

everything. One hundred percent belongs to God. However, the tithe has a unique relationship to God.

The word “tithe” means one tenth. It is not a reference to any offering that we give to God, nor does it

define gifts that we give to charitable organizations. In fact, some of the newer translations of the Bible

actually use the word “tenth” in place of the word “tithe.”


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The earliest reference to the tithe is found in Genesis 14:20. It is the story of Abram returning from a

victorious battle. In his worship of God, he gave a tenth from the spoils of war to the priest Melchizedek. It

appears to be a spontaneous act of giving in response to God’s goodness and provisions in battle.

We have already discovered Jacob’s practice of the tithe as recorded in Genesis 28. It was also a

response to God in worship. This worship “ritual” became a part of God’s law as an expression of God’s

will. Giving a tithe to God predated the law that God revealed to Moses.

At no point has God indicated that the tithe is no longer expected from His people. When we fully

appreciate the Old Testament practice of the tithe then it becomes clear why it is still a valid practice for

today’s Christian. Giving the tithe was always an occasion for worship and joy in the Old Testament.

The reforms under the leadership of Hezekiah brought a renewed commitment on the part of the people

to bring their tithes. As you read the account in 2 Chronicles 31 it is obvious that it was not a dreaded legal

requirement imposed on the people. Instead, it was a worshipful response that resulted in national spiritual

awakening.

The same attitude of joy was experienced under the changes brought about by Nehemiah (see Nehemiah

10). These people were rejoicing in the opportunity that God had provided. Consequently a tithe was

certainly appropriate. In fact, the people rejoiced over the privilege of giving the tithe (Nehemiah 12:44).

The most familiar tithing passage (Malachi 3) speaks of the threefold blessings of the tithe. First, it

produces spiritual blessings as God said to see if I will not open for you the windows of heaven and pour out

for you a blessing until it ov e r f l o w s ( v.10). Second, He promised there would also be financial blessings:

Then I will rebuke the devourer for you, so that it will not destroy the fruits of the ground; nor will your vine

in the field cast its gra p e s ( v. 11). Finally, God promised that the blessing of the tithe would extend beyond

His people: All the nations will call you blessed, for you shall be a delightful land (v.12).

In the New Testament the tithe is found in only four references (Matthew 23:23; Luke 11:42; 18:12; and

Hebrews 7). The only time that Jesus spoke of the tithe was to commend the Pharisees for their faithfulness

in tithing, but He also indicted them for neglecting more important concerns. In the Hebrews passage, the

tithe of Abram to Melchizedek is used to support the superiority of Christ’s priesthood.

Taken as a whole, the scriptural position on the tithe is that it is a joyful recognition that God is the

owner of the universe. It is a worshipful response on the part of the believer. We are clearly told that one of

the key reasons for tithing is that it teaches us to reverence God.

You shall eat in the presence of the LORD your God, at the place where He chooses to establish

His name, the tithe of your grain, your new wine, your oil, and the firstborn of your herd and your

flock, so that you may learn to fear the LORD your God always (Deuteronomy 14:23).

The tithe is not a legal requirement in order to earn God’s favor and blessing. That was never the

purpose of the tithe, even under the law of the Old Testament. Returning the tithe to God is simply

acknowledging God’s proper position in our lives.


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Principle of Grace GivingThe second element in God’s giving plan is grace giving. Grace giving encompasses all offerings that exceed

the ten percent tithe. The principle of grace giving declares that we respond to God’s grace through

sacrificial giving that is beyond the tithe.

It is incorrect to identify the tithe as the plan of the Old Testament and grace giving as the plan of the

New Testament. Both types of giving have been part of God’s plan of giving from the beginning.

The most common term used in the Old Testament to describe this type of giving is “freewill” offering.

It has the meaning of voluntarily, willingly, or freely. This offering, like the tithe, is an expression of

worship.

Then you shall celebrate the Feast of Weeks to the LORD your God with a tribute of a freewill

offering of your hand, which you shall give just as the LORD your God blesses you; and you shall

rejoice before the LORD your God (Deuteronomy 16:10-11).

Because it is a freewill offering, there is no set amount required when it comes to grace giving. T h e

criterion for determining the amount is that it is to be in accordance with God’s blessings (1 Corinthians 16:2).

There are many examples of grace giving in the Bible. When Moses collected the resources to construct

the tabernacle it was an opportunity for grace giving (Exodus 35:29; 36:3). It was also the grace gift that was

given to build the temple (1 Chronicles 29:6). The Jews gave a freewill offering to rebuild the temple under

the leadership of Ezra (Ezra 1:4,6).

In the New Testament, the offering given by Zacchaeus was truly an example of grace giving

(Luke 19:8). The same is true for the offering of two coins by the widow (Mark 12:41-44). Her gift was in

excess of any requirement because it consisted of everything that she owned.

There are several other grace gifts referenced in the New Testament. Paul took an offering for the

s u ffering Christians in Jerusalem (2 Corinthians 8) that provided an occasion for a grace gift. In writing

about this offering, Paul offers great insight into grace giving.

Each one must do just as he has purposed in his heart, not grudgingly or under compulsion, for

God loves a cheerful giver (2 Corinthians 9:7).

It was certainly not a required gift because each was to decide what to give. The giver determined the

amount. It was also a voluntary act of worship since it was not to be done reluctantly or under compulsion.

The church at Philippi provided several grace gifts for the Apostle Paul.

Nevertheless, you have done well to share with me in my affliction. You yourselves also know,

Philippians, that at the first preaching of the gospel, after I left Macedonia, no church shared with

me in the matter of giving and receiving but you alone; for even in Thessalonica you sent a gift

more than once for my needs. Not that I seek the gift itself, but I seek for the profit which increases

to your account. But I have received everything in full and have an abundance; I am amply

supplied, having received from Epaphroditus what you have sent, a fragrant aroma, an acceptable


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sacrifice, well-pleasing to God. And my God will supply all your needs according to His riches in

glory in Christ Jesus (Philippians 4:14-19).

This beloved church graciously shared with Paul, apparently to help support his ministry of the Gospel.

Once again we note the worship element involved in this giving. In fact, in his note of thanksgiving, Paul

uses terminology from the Old Testament worship ritual — a fragrant aroma, an acceptable sacrifice (v.18).

Paul coined the term grace gift as he wrote to the Corinthians about the offering for the Jerusalem saints

(2 Corinthians 8:7). He speaks of the “grace of giving” and then points to the sacrificial death of Jesus as the

ultimate example of grace giving.

Grace giving moves us beyond the blessings of the tithe. It can be identified as grace giving because it

is a response to the grace of God. The one who truly understands and appreciates God’s grace will give.

There is no other appropriate response.

Principle of BenevolenceThe third principle of giving declares that we have a responsibility to give to those who are in need. This is

called the Principle of Benevolence.

If one of your countrymen becomes poor and is unable to support himself among you, help him as

you would an alien or a temporary resident, so he can continue to live among you. Do not take

interest of any kind from him, but fear your God, so that your countryman may continue to live

among you. You must not lend him money at interest or sell him food at a pro fit (Leviticus 25:35-37).

There will always be poor people in the land. Therefore I command you to be openhanded toward

your brothers and toward the poor and needy in your land (Deuteronomy 15:11).

If anyone has material possessions and sees his brother in need but has no pity on him, how can

the love of God be in him? (1 John 3:17).

The poor and needy have a special place in God’s heart and He expects His people to provide for them.

It says in 1 John 3:17 if we have the “love of God” then we will certainly share material possessions with

those in need. It is a quality of God to care for the poor. Therefore, it must also be a characteristic of God’s

people.

In fact, God goes a step further and defines giving to the poor as “lending to the Lord.”

He who is kind to the poor lends to the LORD, and he will reward him for what he has done

(Proverbs 19:17).

It is not a financial loss to give to the poor. In fact, it is an investment that will bring about a significant

return because God “will reward” the investor.


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If you make frequent small investments in a good mutual fund or stable stock, it will grow to a larg e

sum of money over a period of time. The size of the investment does not matter as much as the rate of return

and the length of time.

When you make an investment with the Lord you can be confident that there will not be a loss. We are

not told the amount of interest that God pays, but we do know that the length of time is for eternity. Investing

with the Lord is always a wise financial decision.

Many Christians think that their giving responsibility has ended when they write out a check for the

church offering plate. In reality, when we have brought our tithe and then given an offering beyond the tithe

we have only participated in two of God’s three forms of giving. Our stewardship responsibility is not

complete until we have considered how we can give to the poor and needy.

The Financial Blessings of Giving Each of the three types of giving in God’s plan provides financial blessings for the giver. Although receiving

financial rewards is not the highest motivation for giving they are certainly a factor. We should not be

embarrassed to discuss the financial implications of giving because God outlines them for us in His Word.

The Financial Blessings of TithingThe most familiar passage on tithing was written by the Old Testament prophet Malachi. We sometimes

mistakenly think of a prophet as one who looks into a crystal ball or reads tealeaves to predict the future.

There is certainly a predictive element in the words of the biblical prophets, however it is not based on a

supernatural ability to see into the future.

In most situations, a prophet simply looked at the world around him and with God-given insight and

information and revealed what was happening. In the 5th century BC, Malachi looked at God’s people and

saw a distressing situation.

He saw people who were living in rebellion and in need of repentance (see Malachi 3:7). Families were

falling apart (see Malachi 2:14-16). People were characterized by deceitfulness and dishonesty (see Malachi

3:5). Financially they were struggling because of persistent pests and horrible harvests (see Malachi 3:11). In

their greed they refused to offer their best to God (see Malachi 1:8).

In other words, Malachi looked at the people of Israel in the 5th century B.C. and he saw us. He saw

modern day Americans; people chasing after all the things the world promised but struggling financially. It

is amazing that people and problems do not change over the centuries.

As he surveyed the situation, Malachi also offered the solution.

“Bring the whole tithe into the storehouse, that there may be food in my house. Test me in this,

says the LORD Almighty, and see if I will not throw open the floodgates of heaven and pour out so

much blessing that you will not have room enough for it. I will prevent pests from devouring your

crops, and the vines in your fields will not cast their fruit, says the LORD Almighty”

(Malachi 3:10-11).


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In response to bringing the whole tithe into the storehouse, God said He would keep the bugs from

eating up their crops and make sure the grapes do not fall from the vine before harvest time. This is not a

promise to make them wealthy but an assurance that He would bless their work.

If we translate this principle for a modern, non-agricultural society, perhaps God would say, “I will see

that your bills do not exceed your expenses.” It might mean that you get a raise at work, or that the children

do not need to see the doctor as often or that the washer and dryer keep on working for another five years.

We might not recognize everything that He does but we can trust that God provides His financial

assistance for those who tithe. After listening to hundreds of testimonies from those who tithe I have yet to

hear anyone complain that God did not provide enough money for their needs.

This statement of provision means that the ability to tithe is not a financial consideration. In reality, if

we are to look at it from strictly a financial perspective then we must conclude that a person cannot afford to

neglect tithing. God never makes tithing a financial decision; it is always a spiritual commitment of

obedience or disobedience.

The Financial Blessings of Grace GivingPaul wrote to the church at Philippi to express appreciation for the offering they had sent to him on several

occasions. He was anxious to describe the benefit they will receive from their generous grace gift.

Yet it was good of you to share in my troubles. Moreover, as you Philippians know, in the early

days of your acquaintance with the gospel, when I set out from Macedonia, not one church shared

with me in the matter of giving and receiving, except you only; for even when I was in

Thessalonica, you sent me aid again and again when I was in need. Not that I am looking for a

gift, but I am looking for what may be credited to your account. I have received full payment and

even more; I am amply supplied, now that I have received from Epaphroditus the gifts you sent.

They are a fragrant offering, an acceptable sacrifice, pleasing to God. And my God will meet all

your needs according to his glorious riches in Christ Jesus (Philippians 4:14-19).

Using terminology that comes from the accounting world, Paul describes the return for their gift as

something “credited to your account.” In other words, through this grace gift they had opened a bank

account with God. They were not throwing money away but rather they were making a deposit.

Paul then adds that great verse, And my God will meet all your needs according to his glorious rich e s

in Christ Jesus (v.14). This very familiar promise is made to those who have just given a grace gift.

Jesus expressed this same principle in the Sermon on the Mount.

“Give, and it will be given to you. A good measure, pressed down, shaken together and running

over, will be poured into your lap. For with the measure you use, it will be measured to you”

(Luke 6:38).

The fear of not having enough for ourselves should never keep us from giving. Once again we see that

God does not make giving a financial issue; it is always a heart matter.

The Financial Blessing of Benevolence GivingThe Bible also clearly identifies the financial blessings of giving to the poor and needy.

Give generously to him and do so without a grudging heart; then because of this the LORD your

God will bless you in all your work and in everything you put your hand to (Deuteronomy 15:10).

This verse indicates that when we give generously and “without a grudging heart” then God will bless

our work. This is not a guarantee to win the lottery or to come into wealth, but it does speak of God’s help in

our work. This certainly has financial implications.

When Jesus spoke of giving to the needy His concern is that we do not do it for recognition, but

because it is the right thing to do.

So when you give to the needy, do not announce it with trumpets, as the hypocrites do in the

synagogues and on the streets, to be honored by men. I tell you the truth, they have received their

reward in full. But when you give to the needy, do not let your left hand know what your right

hand is doing, so that your giving may be in secret. Then your Father, who sees what is done in

secret, will reward you (Matthew 6:2-4).

The reward is not from other men but from our heavenly Father.

F i n a l l y, the Apostle Paul also teaches the importance of giving to the poor. As he encouraged the

Corinthians to give an offering to help relieve the suffering of the Christians in Jerusalem, he speaks of the

reward for their generosity.

Remember this: W h o ever sows sparingly will also reap sparingly, and whoever sows ge n e rously will

also reap ge n e ro u s l y. Each man should give what he has decided in his heart to give, not re l u c t a n t l y

or under compulsion, for God loves a cheerful giver. And God is able to make all grace abound to

you, so that in all things at all times, having all that you need, you will abound in every good work ( 2

Corinthians 9:6-8).

G o d ’s response to their generosity is the promise to have all that you need (v.8). Once again, it is the

promise of provision.

God has given us the giving principles so that we can understand how to worship Him. I grew up in the

Baptist church so all my life I have heard that joke that Baptists cannot meet without having an off e r i n g .

This statement is not as true today as it was in times past. However, it may not be a bad thing to take an

offering every time the church gathers. Giving an offering is often the most worshipful thing that we do.

Let us be careful that we do not define worship as nothing more than giving a financial offering. It is

much more than money but it certainly does include money. If you are unwilling to give according to God’s

principles then it is probably evidence that you are not truly worshipping God (see Matthew 6:21).


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Giving connects us to God because it is a quality of God to give. When we give we become like Him.

Giving allows us to enter into His presence.

No man should appear before the LORD empty-handed (Deuteronomy 16:16).

PRACTICAL EXERCISESThe three principles of giving teach us how to connect to God in worship. Therefore, an evaluation of our

giving habits should provide very valuable information about our relationship to God. The following

exercise will give you insight concerning your worship of God.

Most of us keep accurate records of our giving to church and other charitable causes (we are aware of

the tax advantages of this information). You should be able to make an accurate determination of your giving

for the past year by examining your tax return, giving statement from the church, and your cancelled checks.

With these documents, complete the following chart with the amounts that you gave over the last twelve

months according to each type of giving.

Type of Giving Annual Amount Monthly Average Percent of Income

Tithe $ $ %

Grace Giving $ $ %

Benevolence $ $ %

Consider the following questions as they relate to your worship of God:

• How often do you participate in a worship service without giving an offering?

• If you were to give a “tithe of everything” how much would it be?

• Do you always figure your tithe to the penny? If so, does this say anything about your attitude toward

giving?


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• Does your family budget include giving to God that is in excess of the tithe?

• Do you have a regular plan for giving to the poor and needy?

• What do you normally do when confronted by a beggar on the street?

• How much do you need to give in order to truly worship God?


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CHAPTER FOURLiving Principles – Part 1

Bob Thompson and his wife, Ellen, have operated the same business for thirty-seven years. They live in a

three-bedroom frame house that she keeps clean by mopping the floors and washing the windows. He has a

wood-paneled office that is filled with photos of his children and grandchildren. There are no Persian rugs,

oil paintings or expensive furniture.

Thompson does not play the stock market, belong to a country club or collect the usual toys of a

businessman. He does own a boat; however, it is a rowboat inherited from his father. His one indulgence is

his car, a Lincoln, and he and Ellen like to travel and take in an occasional Broadway show.

A humble man with a soft spot for Norman Rockwell art, Thompson started his business from his

basement with $3,500 and the financial support of Ellen who was teaching school. His small asphalt

company expanded over the years into a multi-million dollar road-building business. However, T h o m p s o n

and his wife did not change their lifestyle.

When Bob Thompson sold his company for $422 million in 1999, he could have chartered a jet, flown

off to an island, or even bought the island. But he had another plan. Thompson had mulled it over for years,

conferred with his wife, but kept it hush-hush to all but a few of his workers. It was only when the sale of

Thompson-McCully Co., his road building firm, became final that he informed his employees. First, he had

good news — they would not lose their jobs. Then, he had great news: They would share in the proceeds.

Thompson divided up $128 million among his 550 workers. More than 80 of the workers received a

bonus beyond belief — they became millionaires. But the 67-year-old Thompson was downright casual

about his generosity. “It’s sharing good times, that’s really all it is,” he said. “I don’t think you can read more

into it. I’m a proud person. I wanted to go out a winner and I wanted to go out doing the right thing.”

Bob and Ellen Thompson are unique in many ways. One of the things that set them apart from so many

other people is that they did not adjust their lifestyle to match their financial capability. In other words,

something other than money determined their lifestyle.

There are numerous financial principles in God’s Word that guide us in making lifestyle choices. We

have chosen five that contribute to our spiritual development and maturity.

The Living Principles of God’s Word teach us how we use money to relate to the world. The practical

benefit of living according to these principles is that we develop spiritually. God has provided them to show

us what it means to be faithful to Him.

For it is just like a man about to go on a journey, who called his own slaves and entrusted his

possessions to them. To one he gave five talents, to another, two, and to another, one, each

according to his own ability; and he went on his journey. Immediately the one who had received

the five talents went and traded with them, and gained five more talents. In the same manner the

one who had


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received the two talents gained two more. But he who received the one talent went away, and dug

a hole in the ground and hid his master’s money.

Now after a long time the master of those slaves came and settled accounts with them. The one

who had received the five talents came up and brought five more talents, saying, “Master, you

entrusted five talents to me. See, I have gained five more talents.” His master said to him, “Well

done, good and faithful slave. You were faithful with a few things, I will put you in charge of many

things; enter into the joy of your master.”

Also the one who had received the two talents came up and said, “Master, you entrusted two

talents to me. See, I have gained two more talents.” His master said to him, “Well done, good and

faithful slave. You were faithful with a few things, I will put you in charge of many things; enter

into the joy of your master.”

And the one also who had received the one talent came up and said, “Master, I knew you to be a

hard man, reaping where you did not sow and gathering where you scattered no seed. And I was

afraid, and went away and hid your talent in the ground. See, you have what is your.”

But his master answered and said to him, “You wicked, lazy slave, you knew that I reap where I

did not sow and gather where I scattered no seed. Then you ought to have put my money in the

bank, and on my arrival I would have received my money back with interest. Therefore take away

the talent from him, and give it to the one who has the ten talents.”

For to everyone who has, more shall be given, and he will have an abundance; but from the one

who does not have, even what he does have shall be taken away. Throw out the worthless slave

into the outer darkness; in that place there will be weeping and gnashing of teeth

(Matthew 25:14-30).

Many Christians bemoan their situation claiming that they do not have enough money. When I go to a

church to teach money management I often have people come to me and say, “I started not to come today

because I don’t have any money to manage.”

Numerous people live like the third man in Jesus’ parable, the one who hid his money because of fear.

He was afraid that he would lose what little he had so he lived in bondage. His failure was that he did not

understand his master.

The money was entrusted to him to use. He was to manage the resource in such a way that it would

increase. The first two slaves put the money to work and they were honored with greater responsibility.

J e s u s ’ story explains the proper attitude toward money — it is a resource to be used to benefit the Master.

With this attitude we are then able to implement God’s principles for living.


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Principle of Contentment

The success of modern-day advertising rests on the simple truth that we are not content with what we have.

We always seem to want more and when someone promises to give us more, we are quick to follow.

The tendency is to blame the rich and accuse them of being money-grubbers, running over people in

order to accumulate big bank accounts and financial assets. In reality, contentment has nothing to do with the

size of our checkbook balance.

Remember the last raise you received and how you felt with that larger paycheck. The extra money

seemed to be exactly what was needed and now you felt content. However, it often takes just a few months

before we start to feel the financial pinch once again. We find ourselves thinking, “I sure do need another

raise!”

It is really easy to fall into the trap of always needing just a little bit more in order to be content. T h e

Apostle Paul teaches some valuable lessons about contentment that can impact our stewardship practices.

But I rejoiced in the Lord greatly, that now at last you have revived your concern for me; indeed,

you were concerned before, but you lacked opportunity. Not that I speak from want, for I have

learned to be content in whatever circumstances I am. I know how to get along with humble

means, and I also know how to live in prosperity; in any and every circumstance I have learned

the secret of being filled and going hungry, both of having abundance and suffering need. I can do

all things through Him who s t rengthens me. Nevertheless, you have done well to share with me in

my affliction (Philippians 4:10-14).

Within these very familiar words we discover three truths that can help us experience contentment.

• Contentment is Learnednor was it a gift that was bestowed upon him by a gracious God. Contentment is not an attitude that we

should expect to wake up with some morning. We must learn contentment.

Contentment is learned from the experiences of life. Paul had experienced the extremes of

prosperity and poverty. Those who have traveled these twin roads will testify that neither produces

contentment. A recent survey of people in the United States revealed an interesting mindset. People

were asked how much money it would take to make them happy. The vast majority of people responded

with a figure that was twice their current income. It did not matter if they currently made $25,000 or

$125,000; they all thought they needed twice as much in order to be happy.

Contentment is an inner disposition. A person who does not know contentment with a little will not

experience it with an abundance. Instead, we must learn contentment by learning how to live within our

current circumstances.

• Contentment is Independent of Possessions

Paul experienced contentment when he had very little and when he had prosperity. This statement

amazes us because we tend to believe that contentment is found in possessions. If we can just get that


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better job, or new house, or nicer car, or new gadget, etc. then we will be content. However, you can be

assured that if you are discontent without a material possession you will still be discontent when you

obtain that possession.

Some of the finest servants of God can be found on both extremes of the economic spectrum. David

and Solomon were probably two of the wealthiest men who ever lived. In contrast, Jesus was probably

one of the poorest people of his day — He did not even have a change of clothes when He was

crucified.

There were also many others who experienced both poverty and plenty. Men like Job who went

from riches to rags back to riches. A wealthy father raised Joseph but then he was sold into slavery and

lost everything. However, at the end of his life all of the wealth of Egypt was at his disposal.

Even among Jesus’ disciples there must have been poor and rich. Matthew was a tax collector, which

earned him a very high income. Peter worked for his father in the fishing business, which was not a high

paying occupation in ancient Palestine.

If contentment came from accumulating possessions then Paul would have instructed us to pray for

riches and encouraged us to seek material treasure. However, he tells us to learn to be content regardless

of what we possess.

• Contentment Comes from Trusting ChristThis passage on contentment contains one of the greatest verses in the Bible — I can do all things

t h rough Him who strengthens me. Contentment is a byproduct of trusting Christ. Paul says that he is

content in all circumstances because he has Christ.

My father was wounded while serving with the Marines in the Pacific during World War II.

After fighting infection in a military hospital for more than two years he finally lost his right leg. I can

remember asking him when I was very young if he wished he could have his leg back. He answered that

it really did not matter. As a child it was hard for me to comprehend how a man with only one leg could

be content.

As I matured and had deeper conversations with my father, I learned that his faith in Christ had made

him content with his situation in life. His relationship with God has been a powerful example for me to

follow as I have also dealt with a lifetime of physical disability.

As we mature in our faith we realize that when we have Jesus, we have everything that we need.

Therefore, we do not long for more possessions, prestige, or positions. If they come we can enjoy them,

but if they do not come we can be just as content.

This idea of contentment has tremendous implications for the way we handle finances. It sets us free

from the compulsion to be earning more money and accumulating more possessions. If God chooses to

bless us with a small portion or abundant possessions it does not matter — we can learn to be content.


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Principle of WorkWhen I was a child, like every child at the time, I was frequently asked what I wanted to be when I grew up.

Having to answer that question often forced me to put some thought into my future. By the time I was in

High School I had some definite opinions about a potential career choice.

It seems that we do not ask that question of our children as much these days. Perhaps it is because we

do not think in terms of a career as much as previous generations. Instead, most of us do not have a career,

we move through a series of jobs. Like most people, I have not had one career. I have had several jobs that

have provided a wide variety of experience.

The one thing that all of these jobs have in common is work. Although I have changed careers, and will

possibly change again in the future, I will always be expected to work. It is important to understand that

work is not something to be avoided or dreaded; rather, it is an essential part of life.

• Work is the Provision of God Work is the means by which God provides our financial resources. God is capable of dropping food

from heaven or miraculously filling the refrigerator while we sleep at night. In fact, during the forty

years of wilderness wanderings that is exactly how God provided for His people.

Miraculous provision is the exception rather than the norm. God provides for our needs through our

work. Unless you receive a large inheritance or win some type of sweepstakes, the vast majority of

money you have will come as a result of work. Although God is certainly the provider, He does so

through the work of our hands.

• Work is the Intention of GodSome people have the idea that God did not originally intend for man to work. They believe that God

placed man in the Garden of Eden to sit back and enjoy life, free from toil and labor. They have

developed this philosophy of life and are pursuing a situation that will allow them to stop working. In

fact, this is a very common attitude. Search the shelves at your local bookstore and notice the abundance

of “How to…” books that teach you how to retire early.

H o w e v e r, a more careful reading of the creation story in the early chapters of Genesis reveals that

God created man and put him in the garden to work. Work is neither a consequence of sin nor a curse to

be avoided. The Genesis story reminds us that God created us to work — to be productive. Thus, when

we work we are simply fulfilling God’s plan for our lives that was initiated at creation.

For even when we were with you, we used to give you this order: if anyone is not willing to

work, then he is not to eat, either (2 Thessalonians 3:10).

• Work is Partnership with God Although God made us for work, He does not leave us to work alone. God is the provider (see

Philippians 4:13) and one of His provisions is that He gives us the ability to work and produce wealth.


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Otherwise, you may say in your heart, “My power and the strength of my hand made me this

wealth.” But you shall remember the LORD your God, for it is He who is giving you power to

make wealth, that He may confirm His covenant which He swore to your fathers, as it is this

day (Deuteronomy 8:17-18).

We do not work alone; God is our partner. Every job is made easier when we have a partner,

especially One who has all the resources.

• Work is a means of Serving God Understanding these truths should transform our attitude toward work. Once we realize that work is

G o d ’s means of providing our needs, that He created us to be workers and that He works alongside us

then we will become faithful and diligent in our labor.

With this perspective, Christians should be the finest employees (or employer in some cases)

because we realize that we are serving Christ.

Whatever you do, do your work heartily, as for the Lord rather than for men, knowing that from

the Lord you will receive the reward of the inheritance. It is the Lord Christ whom you serve

(Colossians 3:23-24).

We do not work for a company that does not pay us enough or A boss who does not appreciate our

worth. We work for the Lord Jesus Christ. The workplace is transformed into a place of worship and

ministry.

In fact, we will find more opportunities for ministry and evangelism in the workplace than we will

ever find at church. People who need Jesus do not usually come to the church but we do find them at

our place of employment.

Next Monday, after you have had a very hectic weekend and are making the trip to the office or

factory, remember that you are on your way to serving God. It should transform your attitude.

Principle of HonestyIn the financial realm we are tempted almost daily to be dishonest. When the checkout person at the grocery

story miscalculates and gives too much change, it is a test of honesty.

I was watching one of my sons play baseball on a hot Saturday afternoon. During a break in the action I

went to the concession stand for a bottle of water. The parents who were volunteered to operate the

concession stand were under siege by a mob of hungry and thirsty children. I waited my turn and ordered a

bottle of water that cost one dollar. I handed the frazzled parent a five-dollar bill and as she counted out the

change, she also answered seven questions about the candy on the shelf. In her distraction she gave me

change for a ten, rather than a five-dollar bill.

It would have been easy, and it was tempting, to walk away with an extra five dollars. No one would

have ever known or even cared. We all face these types of temptations on a regular basis. It is almost like

God is frequently giving us the opportunity to prove our honesty.

Lying lips are an abomination to the LORD,

But those who deal faithfully are His delight (Proverbs 12:22).

A false balance is an abomination to the LORD,

But a just weight is His delight (Proverbs 11:1).

God has high expectations from his people. Although our neighbors and friends may try to take

advantage of others or get a little extra at times, we must live by a different standard. Dishonesty promises

great reward and may actually produce temporary advantages. However, as Christians we live by a higher

standard.

One of the tragic consequences of dishonesty is that it presents a terrible witness for the Christian faith.

Although they do not accept our message, the lost world does expect Christians to be people of honesty and

integrity. They rapidly see the hypocrisy of those professing to follow Christ while they cheat on their taxes

or steal from their employer.

It is especially discouraging to find examples of blatant dishonesty within the church. There have been

many who put on the attitude of strong financial supporters of the church when they stand before the

congregation, but in reality they give little or nothing.

As followers of Jesus we must never do anything to cause fellow Christians or non-believers to

question our honesty and integrity. The opposite is also true. When we live honestly in all matters we will

build a reputation that can gain a hearing for the Gospel.


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PRACTICAL EXERCISESThe first three Living Principles — contentment, work, and honesty, show us what it means to be faithful

stewards. All three provide guidance for how we should relate to the world. The Principle of Contentment

reminds us that we must not desire to have too much of the world. The Principle of Work will lead us to

serve God in every aspect of life. Finally, the Principle of Honesty teaches us how to develop an impeccable

reputation, both within and outside the church.

The practical exercise part of this chapter will guide us to think about how we relate to the material

world. In order to set goals and to begin to move toward attaining those goals we must have an accurate

assessment of our current position.

♦ Evaluate your current standard of living by determining your current net worth.

Step #1 – Add up the total value of all your assets:

Checking Account Balance $

Savings Account Balance $

Investment Account Balance $

Retirement Account Balance $

Current Value of your House $

Current Value of your Automobiles $

Current Value of Personal Property $

Current Value of any Businesses you own $

TOTAL $

Step #2 – Determine your total liabilities

Amount of the Principal Balance on Mortgage $

Amount of Outstanding Balance on Credit Cards $

Amount of Outstanding Balance on other Loans $

Amount Owed on Automobile Loans $

TOTAL $

Step #3 – Subtract the amount from Step #2 from the amount from Step #1. The figure is your Net Worth.


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♦ Begin to establish a budget using the 10-70-20 Plan

Step One

Total Income $___________ per month(Remember to include all wages, interest earned, dividends, etc.)

Step Two

Subtract

Tithe (10%) $___________ per month

Taxes $___________ per month

Working Income $___________ per month

Step Three

Divide into categories

Saving (10%) $___________ per month(multiply Working Income by .10)

Living (70%) $___________ per month(multiply Working Income by .70)

Debt/Future Planning (20%) $___________ per month(multiply Working Income by .20)

♦ Establish a plan for your living expenses for the categories listed below. Your goal for the total amount

of these expenses should be 70% of your working income as calculated above. If your living expenses

are significantly higher than the 70% target you probably need to make some adjustments in your

spending habits or in your standard of living. Continuing to overspend will eventually create financial

problems so it is important to adjust your lifestyle to fit your income.


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MONTHLY ANNUAL

Housing

Rent/Mortgage $ $

Insurance $ $

Utilities

Gas/Electric $ $

Water $ $

Phone (house & mobile) $ $

Maintenance $ $

Furnishings $ $

Property Taxes $ $

Food & Household $ $

Clothing $ $

Transportation

Car Payment (1) * $ $

Insurance $ $

Gas $ $

Maintenance & Repairs $ $

Medical Expenses

Insurance $ $

Doctor $ $

Dentist $ $

Medicine $ $

Recreation

Monthly Activities $ $

Vacations $ $

Personal Allowances $ $

Education $ $


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Gifts

Birthdays $ $

Christmas $ $

Special Occasions $ $

Insurance

Life $ $

Disability $ $

Miscellaneous $ $

TOTAL $ $

* It is difficult for most families to carry more than one car payment in the Living Expense section. If that is

your situation, you will need to put additional car payments in the Debt section.


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CHAPTER FIVELiving Principles – Part 2

Although the purpose of this study is not to help people become wealthy, there is a basic truth about wealth

that is very helpful to understand as we deal with financial attitudes. Many people have set a goal of

becoming rich. Others, who are more realistic, resign themselves to the inevitable reality that they will never

be rich, but they sure long for the opportunity.

H o w e v e r, wealth may not be as elusive as we have come to believe. In a study published in the book,

“The Millionaire Next Door,” the authors arrived at an interesting conclusion. They examined millionaires

to determine their current lifestyle and how they became wealthy.

The large majority of these millionaires are not the descendants of the Rocke f e l l e rs or Va n d e r b i l t s .

M o re than 80 percent are ordinary people who have accumulated their wealth in one generation.

They did it slowly, without signing a multimillion-dollar contract with the Yankees, without

winning the lottery, without becoming the next Mick Jagger. Windfalls make great headlines, but

such occurrences are rare. In the course of an adult’s lifetime, the probability of becoming

wealthy via such paths is low …♦

Several qualities possessed by these millionaires kept coming through in the interviews and surveys. It

is common for people who have achieved financial independence to live very frugal lifestyles. In other

words, they adopt a lifestyle that is well below their means so they can begin the process of accumulating.

The purpose of the biblical teaching concerning savings and debt is not to make us wealthy. However, if

you follow these biblical principles you will be practitioners of faithful stewardship. In fact, if you will

carefully live according to these two principles you will likely have access to great resources to use for the

glory of God.

Those who ignore these principles will find themselves in debt and the resulting financial bondage.

Therefore, this chapter will offer some of the most practical financial advice you will ever find as we

examine the biblical teaching concerning saving and debt.

Principle of SavingBenjamin Franklin was intrigued by the idea of saving money and the power of compounding interest. In his

will he left trusts of £1,000 each to Philadelphia and Boston. Franklin directed that income from these trusts

be reinvested for 200 years. When the money was finally distributed in 1989, Philadelphia’s fund totaled

$2.3 million and Boston’s, $4.7 million.

Of course, you will not live 200 years and you may not have the equivalent of £1,000 to invest.

However, Ben Franklin left us a great example of the power of saving. Saving is an important financial tool

that can help us avoid financial problems as well as provide significant resources for missions and ministry.


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The Bible has a great deal of information on the subject of saving. Primarily, saving is presented as a

quality of the wise in contrast to consuming, which is a quality of the fool.

There is precious treasure and oil in the dwelling of the wise,

But a foolish man swallows it up (Proverbs 21:20).

The wise person has stored away precious treasure and oil. He/she has saved provisions. In contrast, the

fool swallows it up. In other words, the fool consumes everything. The fool is the person who gets paid on

Friday afternoon and often finds that by Tuesday all the money has been spent.

• Preparation for EmergenciesOne of the primary reasons for saving is that it allows us to be prepared for emergencies. An emerg e n c y

does not necessarily have to be a trip to the hospital or a total collapse of the car. A financial emergency

is anything that was unplanned.

A good family budget will provide for most of the day-to-day expenses. However, it seems that

expenses that we had not planned happen on a regular basis. It might be a major expense like a

compressor on the air conditioner or something much less expensive. Emergencies happen to every one,

but if we are not prepared it can create financial problems.

The faithful woman described in Proverbs 31 demonstrates the comfort of being prepared.

She is not afraid of the snow for her household,

For all her household are clothed with scarlet (Proverbs 31:21).

Snow was a very rare occurrence in Palestine. Without the aid of modern meteorological predictions,

a snowstorm might catch a family by surprise and unprepared. However, this faithful woman is ready

for such an emergency because all her household are clothed with scarlet. The term “scarlet” describes

a red color that was often used in clothing, especially regal material. The phrase suggests that her family

is well dressed and prepared for the weather emergency.

The only way to be sufficiently prepared is to set aside extra money when it is available. The

recommended “10-70-20 Plan” suggests that you save 10% of your Working Income to be used for this

purpose. The money should be put in an accessible, interest-bearing account. One of the great benefits

of having an emergency fund is the peace of mind that comes from knowing that you can handle a

financial crisis.

• Avoidance of DebtWhen you do not have any money in an accessible savings account, the only way to respond to an

emergency is with the use of debt. Consequently, even though you might be working to get out of debt,

the task is very difficult because every crisis puts you further into debt.

During the time of Nehemiah, many people were finding themselves in debt just to be able to feed

their family.


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There were others who said, “We are mortgaging our fields, our vineyards and our houses that

we might get grain because of the famine.” Also there were those who said, “We have borrowed

money for the king’s tax on our fields and our vineyards. Now our flesh is like the flesh of our

brothers, our children like their children. Yet behold, we are forcing our sons and our daughters

to be slaves, and some of our daughters are forced into bondage already, and we are helpless

because our fields and vineyards belong to others” (Nehemiah 5:3-5).

Even though we might understand the danger of debt, if we are not careful we find ourselves in

debt because we were not ready for a particular financial situation.

• Preparation for the FutureIt is a serious mistake to make financial decisions on the basis that you will always be able to earn an

income. The majority of us will live longer than we can be financially productive. Even those who die

during their productive years often have dependents who will be in financial trouble if adequate

preparations have not been made.

But if anyone does not provide for his own, and especially for those of his household, he has

denied the faith and is worse than an unbeliever (1 Timothy 5:8).

A good savings plan is crucial to help you be ready to provide for your family.

The only way to make financial preparations for the future is to diligently save during the productive

times. There will probably come a time when you will want to retire from your work. In order for this to

happen you must make adequate preparations. It is not difficult if you start early.

For example, if you being at age 15, by saving $125 per month at 8% interest (a reasonable

expectation) you can retire as a millionaire at age 65. However, if you wait ten years to start, age 25,

then you will need to save $280 per month to reach the same goal. If you wait until age 40, when most

people get serious about retirement, it will require more than $1,000 per month.

Preparing for the future encompasses much more than retirement. You might want to start a business

some day or send your children/grandchildren to college or have time to devote to ministry. Your list of

plans can be as broad as your imagination. In order to be financially prepared for any of these future

goals you must develop a strategy of saving.

Principle of DebtJoe and Judy Median seem to be the ideal American family.♦ Their home occupies a quiet spot in a tree-

lined cul-de-sac. It provides a very pleasant environment for their two children. Joe works hard on

weekends keeping the yard trimmed. Judy volunteers her few spare hours helping to transport

neighborhood kids to numerous activities. They appear to have all that is necessary for the modern family.

♦ The figures for this illustration represent the median American family.


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H o w e v e r, if we could get inside the three-bedroom home, into the desk where they keep the financial

records, we would discover that Joe and Judy are on the brink of a disaster. The Medians both work. Joe

earns $28,449 per year and Judy makes slightly less at $23,479. Their income should support an adequate

lifestyle. After taxes, the Median family has $3,702 to spend each month.

The mortgage and utilities take almost one-third of this amount; $1,200. The Medians attend the Baptist

church in their neighborhood, and like the average church member, they give 2.5 percent of their income,

$110 per month.

The Medians require two cars. One car is financed but the upkeep, payments and insurance for both

vehicles cost $450 per month. By the time Joe and Judy calculate the remainder of their family expenses,

including childcare for their preschool daughter, their total requirements for each month equal $3,535.

We might breathe a sigh of relief since they have $167 per month surplus. Yet, before we leave the

Medians to live happily ever after, we should be aware of their credit card debt. The Median family has a

balance on their credit cards of $5,200 that requires minimum payments of $260 per month. Their surplus

has now become a $93 deficit. The fact that they have no money for savings makes the situation even more

desperate.

Joe and Judy are very much the American family in financial crisis. When the car needs major repairs

they have no other option but to dig themselves deeper into debt. Every Christmas they increase the limits on

their credit cards. Like many families, they would find it impossible to get their hands on a thousand dollars

if it were necessary. Families like the Medians are on the brink of financial collapse.

Although the problem is obviously a financial struggle, it goes far deeper. Some estimate that 80% of

divorced couples in their 20’s and 30’s would claim that financial problems were the major destructive factor

in the marriage. Family financial problems also create difficult conditions for children.

The irony of this whole scenario is that we can talk about the American family in financial crisis at the

same time that our nation is experiencing unprecedented economic stability. In fact, it might be safe to

suggest that the family of the 1990’s is suffering from a greater financial crisis than many families of the

Depression era.

Sometimes, we fail to realize the practical nature of the Bible. We tend to think that God’s Word is good

for spiritual matters and to answer questions of eternity, but few would think to read it to find help for debt

problems.

H o w e v e r, the percentage of monthly income used to pay consumer debts is currently at 29.5%. God is

certainly interested in how we are spending that 30% of our income. In 1996, 1.1 million families in this

country filed for non-business related bankruptcy. Doesn’t it make sense that God has something to say to

help those million families?

The Bible is a very practical book, providing guidance and hope in the very concrete world of personal

finances. Joe and Judy Median, and you and I, for that matter, would be well served to follow the guidance

of God’s Word in our personal finances.


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It should not surprise us that God takes a different approach to debt than MasterCard or the local car

salesman. When it comes to the subject of debt, the Bible speaks in terms of freedom and bondage.

Eliminating financial debt will provide the freedom to practice good stewardship. God does not just

condemn something, but He offers help.

These very practical verses provide a plan to get out of debt.

My son, if you have become surety for your neighbor,

Have given a pledge for a stranger,

If you have been snared with the words of your mouth,

Have been caught with the words of your mouth,

Do this then, my son, and deliver yourself;

Since you have come into the hand of your neighbor,

Go, humble yourself, and importune your neighbor.

Give no sleep to your eyes,

Nor slumber to your eyelids;

Deliver yourself like a gazelle from the hunter’s hand

And like a bird from the hand of the fowler (Proverbs 6:1-5).

Here is the four-step plan outlined in Proverbs 6 to help us become debt free.

Consider Your Situation vs.1-2These words speak of being in debt. Verse one describes two kinds of debts: putting up security for another

person; and obligating ourselves. They both involve financial obligations. In other words, it is describing the

person who is financially committed to paying another person, that is, to owe them money.

In verse two this condition is described as being in a trap. The language is that of a hunter who has

captured his prey. The writer is describing the person who has become trapped by promises to pay.

The rich rules over the poor,

And the borrower becomes the lender’s slave (Proverbs 22:7).

This verse uses the analogy of being a slave when you are in debt. In either situation, being in a trap or

being a slave, there are very few good options.

The financial cost of being in debt can be very severe. If you have a credit card with a balance of $5,000

and you make the minimum monthly payment it can take more than 40 years to pay off the debt. In other

words, your entire adult life can be spent working for the benefit of your creditor. I have encountered people

with as much as $125,000 in credit card debt. That is certainly the opposite of financial freedom.

Perhaps an even greater problem than financial bondage is the spiritual bondage that is caused by debt.

First of all, going into debt is often a result of being presumptuous.


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Come now, you who say, “Today or tomorrow we will go to such and such a city, and spend a year

there and engage in business and make a profit.” Yet you do not know what your life will be like

tomorrow. You are just a vapor that appears for a little while and then vanishes away. Instead, you

ought to say, “If the Lord wills, we will live and also do this or that” (James 4:13-14).

We do not know our financial future so we must be careful not to make financial decisions based on

conjecture. When we presume that our income will be stable or steadily increasing and that our expenses

will not change, then we are on shaky ground financially. We just do not know what the future will bring.

We must also be careful not to question God’s wisdom. God knows exactly what we need and He has

promised to provide for His own. However, it is tempting to use debt as a means of obtaining things that

God knows we do not need and that we cannot handle faithfully. Then we find ourselves in a position of

having to pay for things that He does not want us to have.

Another problem that leads to debt is impatience. Perhaps we believe that God will provide our needs

but it may be difficult to wait for His timing. It is tempting to get in a hurry and try to convince ourselves

that God is going to provide by allowing us to have good credit. Waiting for God to provide is not always

easy but, from my experience, it is always best. His provisions are always better than the things I have tried

to provide for myself.

The first step toward getting out of debt is to consider our situation. First, it means that we must be

honest about our financial condition. Do not ignore certain creditors or be content that we can currently

make all the payments. Second, be honest about our spiritual condition. Try to determine the source of our

debts and how much of our problem is spiritual. Debt is not usually caused by a lack of income, but the

problem is more likely to be selfishness, greed, or a love for money and things. In order to solve the

problem, we must face up to the real problem.

• Commit to a Solution The phrase “…deliver yourself” (v.3) encourages us to find a solution to our problem of debt. It is

interesting that God does not say that we should pray for deliverance or wait for some extraordinary

windfall to bring deliverance. Instead, we should take the initiative and deliver ourselves.

The solution to debt involves two steps. First, we must make a commitment to avoid any future

debt. Progress will be very slow if we continue to borrow money while we are working to become debt

free. It is also safe to say that it is virtually impossible to borrow our way out of debt. Remember this

when tempted to take a second mortgage on the house or to run to the finance company for a

consolidation loan.

The second step to eliminate debt is to develop a plan for repaying all our creditors. Such a plan will

normally require sacrifice and perseverance. However, it should encourage us to know that any

sacrifices we make today to get out of debt will pay dividends in the long run. We may do without some

things for a short time but we will have greater resources in the future.


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• Contact Your Creditors God then instructs to go to our “neighbor” (v.3) who, within the context is the creditor. It is always in

the creditor’s best interest for the debtor to pay off a debt. Once we have developed a plan to pay off our

debts, we should contact each creditor to explain our situation and our plan. Express the commitment to

pay the debt, explain the payment process that has been developed and then faithfully work the plan.

• Continue With Diligence Finally, God says do not quit until the problem is solved and there is freedom from debt (vs.4-5). When

He says, Give no sleep to your eyes, Nor slumber to your ey e l i d s …it means that we should not rest until

the debt has been paid.

Getting out of debt is hard work but the rewards are tremendous. When we make that final payment

we will experience tremendous freedom. We will be in a position where we are no longer a slave to the

credit card companies. Now we are free to serve God with all of our resources, not just the leftovers

after the monthly payments.

PRACTICAL EXERCISES

• Set up accounts for 10% savings and establish long-term financial goals.

Step #1: Using the “10-70-20 Plan”, determine how much you will set aside for savings each

month.

Step #2: If you do not currently have a savings account, open one at your bank.

Step #3: Determine how much of the money you are saving each month that you will set aside

for emergencies and how much will be used for achieving long-term goals. It is recommended

that you work toward having the equivalent of three months expenses in your emergency fund.

At the beginning you do not need separate accounts for your emergency fund and your long-

term savings fund but keep accurate records for your personal information.

Step #4: Establish some long-term financial goals. Work together as a family and decide what

you would like to accomplish as a family. This will include items like purchasing new

furniture and other major purchases, remodeling the house, trips and other goals. Also begin to

think about things like retirement, college for the children, a new family business, etc. T h e

10% will not be sufficient to accomplish these goals but you need to establish some goals.

Once you have eliminated your debt the 20% that you have been paying to your creditors will

allow you to accomplish these goals.

• Establish a plan to get out of debt using the “10-70-20 Plan.”

Once you have calculated the amount that you have available for paying debts using the “10-70-20

Plan”, develop a debt repayment plan.

Step #1: Make a list of all your creditors. This list should include the following information:

Name of creditor

Address

Phone Number

Account Number

Total amount of debt

Required monthly payments (If the amount changes according to the balance, list the amount

required for the next payment.)


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Step #2: Determine which payment plan best fits your circumstances. If the amount available according

to the “10-70-20 Plan” is greater than the required monthly payments use Plan A. If the amount

available is less than the required monthly payments use Plan B.

Step #3: Develop your plan.

Plan AThis plan is recommended if the amount you have available to pay toward debts (20% of your Wo r k i n g

Income) is greater than the minimum required payments. List your creditors, starting with the smallest up to

the largest. Each month pay the minimum amount to each account and add the extra to the smallest debt.

Within a short time the smallest debt will be paid off and then apply the total amount you sent to the

eliminated debt to the next smallest. This plan will provide encouragement as you see debts being paid off

on a regular basis. The following chart is an example of how to use Plan A.

Creditors Balance Due Payment Dillards $700 $30 Extra $155 per month

J.C. Penny’s $1,500 $30 Extra $185 after Dillards paid Furniture $1,800 $75 Extra $215 after Penny’s paid

Finance Co. $2,200 $90 Extra $290 after Furniture paidDiscover $2,500 $70 Extra $380 after Finance Co. paid

Sears $2,500 $70 Extra $450 after Discover paidMasterCard $4,000 $80 Extra $520 after Sears paid

Visa $4,500 $100 Extra $600 after MC paid $20,700 $545

Plan BThis plan is to be used if you do not have enough to make the minimum on all your debts. Calculate the

percentage of your total debt that you owe to each creditor. This is done by dividing the balance due to each

creditor by the total amount due. When you determine what percentage of your total debt that you owe to

each creditor, send that percentage of your total amount you can pay (20% of your Working Income) to that

c r e d i t o r. For example, the following chart shows that 21.7% is owed to Visa. Therefore, this family would

send 21.7% of their total debt payment to Visa.

Creditors Balance Due % of Total Due Payment Visa $4,500 21.7% $152.17

MasterCard $4,000 19.3% $135.27 Sears $3,500 16.9% $118.36

Discover $2,500 12.1% $ 84.54 Finance Co. $2,200 10.6% $ 74.40

Furniture Store $1,800 8.7% $ 60.87 J.C. Penny $1,500 7.2% $ 50.72

Dillards $ 700 3.4% $ 23.67 $20,700 100% $700.00


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If you use Plan B you must contact each creditor because your plan will require you to pay less than the

minimum payment. Explain your situation and your plan. Ask for their assistance in getting out of debt

(remember it is to their benefit for you to pay your debts). Request that they eliminate any late fees and if

they will reduce the interest rate. (If you need assistance in working with your creditors, go the the “links”

page at www.churchstewardship.org for a list of agencies that can assist.)

Step #4: Work the plan until all your debts are eliminated.


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CHAPTER 6Growing Principles

When we built our house five years ago, it was located in a small neighborhood that was at the dead end of

a street. Our seven-foot tall backyard fence ran along the street and effectively blocked out any noise from

the very few cars that drove by. I contemplated planting a hedge along the fence so that it would provide

even more privacy. However, I kept postponing the project because we liked the view from the backyard

deck.

The city has grown rapidly in our area and earlier this year they removed the barricade at the end of the

street and made it a four-lane thoroughfare that connects to the Interstate highway. As you can imagine, the

amount of traffic behind our house has increased dramatically.

As I sit on the deck and watch the cars and trucks race by, I often wish that I had planted the hedge five

years ago. It would now be tall enough to accomplish the job. If I plant the hedge now it will take another

five years before it will have any effect.

I must confess that failing to plant the hedge was very shortsighted. I liked the way things were and I

gave very little consideration to how they might become. Even though I have been listening to the traffic for

several months now, the hedge is still not in place. It always seems that I have something else to do with my

time and money.

Much of life is lived with a shortsighted perspective. We live in a world that celebrates instant

gratification. Perhaps the most powerful reason that debt has become such a huge problem is because it

allows us to have our desires instantly. Why should we wait when we can have it all now?

We possess the ability to postpone things that are important because they seem too far away in the

distant future. It might be that we do not think about how to pay for our children’s college education until

they are in 10th grade. Most people do not get serious about saving for retirement until they are in their mid-

forties.

Even if we do start early planning for college, retirement, or other future long-term goals, how much do

we think about investing for eternity? The Bible teaches that we are not to become too attached to this world

since we do not really belong to this world. We should make our investments with a much broader

perspective.

There was an old chorus that we sang at church when I was a young child that I remember very well.

The words, although they sounded strange to a child, expressed a great truth about our stewardship.

This world is not my home,

I’m just’a passing through.

My treasures are laid up,

Somewhere beyond the blue.


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We must learn to stop living for the moment and start to think in terms of the future — both in this

world and in eternity.

Jesus expressed this truth very clearly in the Sermon on the Mount.

Do not store up for yourselves treasures on earth, where moth and rust destroy, and where thieves

break in and steal. But store up for yourselves treasures in heaven, where neither moth nor rust

destroys, and where thieves do not break in or steal; for where your treasure is, there your heart

will be also (Matthew 6:19-21).

Meeting temporary physical needs is only one purpose of money. A n o t h e r, more important use for

money is that it can be used to secure “treasures in heaven.”

The phrase “store up for yourselves treasures” is an interesting statement in the original language. It

literally reads, “do not treasure up treasures” and warns against putting aside a surplus in a storeroom. T h e

idea is that we are not to stockpile or hoard wealth that is not being used. It calls to mind the rich man of

Jesus’parable.

And He told them a parable, saying, “The land of a rich man was very productive. And he began

reasoning to himself, saying, ‘What shall I do, since I have no place to store my crops?’Then he

said, ‘This is what I will do: I will tear down my barns and build larger ones, and there I will store

all my grain and my goods. And I will say to my soul, “Soul, you have many goods laid up for

many years to come; take your ease, eat, drink and be merry.’ But God said to him, ‘You fool! This

very night your soul is required of you; and now who will own what you have prepared?’So is the

man who stores up treasure for himself, and is not rich toward God” (Luke 12:16-21).

This is not an indictment against the wealthy. God does not condemn the possession of material things.

Instead He warns about the danger of setting our heart on the things of the world.

Instruct those who are rich in this present world not to be conceited or to fix their hope on the

uncertainty of riches, but on God, who richly supplies us with all things to enjoy (1 Timothy 6:17).

The rich are not instructed to give away their riches. Instead they are told not to place their hope on

their wealth. The temptation for those who begin to stockpile and hoard wealth is that they soon begin to

trust in their wealth.

In Jesus’ time a person’s wealth was often measured by clothing. The rich had more garments and often

the extremely rich would weave gold threads into their clothing, both to display and store their wealth. T h e

best clothes were made from wool, a material that was especially susceptible to moths. Therefore, the

wealthy often had difficulty protecting their treasures. It was also common to hide wealth by burying it in

secret places in the ground. Thus, it was in danger of being eaten by rust.

These images stand behind Jesus’ warning about the possibility of losing wealth. This is why it is a

waste of time and energy to hoard up these earthly treasures. They have no eternal benefit for us or for

others.


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For we have brought nothing into the world, so we cannot take anything out of it either (1 Timothy 6:7).

In contrast to earthly treasures, we are encouraged to accumulate heavenly treasures, which are not

susceptible to destruction and loss. To store up treasures in heaven we must invest in things that have eternal

value. The only thing that I know of in this world that is eternal is people. Therefore, the way we make

eternal, heavenly treasures is to make investments in people.

The purpose of the two Growing Principles is service to others. They teach us how to use money to

prepare for the eternal future. The benefit produced is that we will accumulate heavenly treasures. To define

“heavenly treasures” is not the scope of this study, however, we can be confident that treasures in heaven

will certainly be valuable indeed.

The Growing Principles teach us how to increase our eternal investments. They are called Growing

Principles because they are the result and the cause of spiritual growth. The more we implement these

principles, the more we will have our heart in heaven—for where your tre a s u re is, there your heart will be also.

Principle of planningThinking and planning for the future is a tricky endeavor. On the one hand it is important that we consider

the future and not be caught unprepared. On the other hand we must be careful that our plans are not too

specific because we do not know what the future holds (see James 4:13-15).

If we do not do financial planning, then our only recourse is to respond as the situation arises. For

example, if I do not plan for my car to wear out, at some point after four or five years I will be left with a car

that no longer drives and with no resources to purchase another vehicle. In that case I will have very few

options, perhaps the best (of only poor options) is to borrow money at high interest to purchase a new car.

Another example would be retirement, an eventuality that many people fail to plan for adequately. If I

do not put aside money for that inevitable day when I can no longer earn an income, I may be left with only

one option — living in poverty.

However, if we do proper planning, it will free up greater resources for us to make eternal investments.

Rather than spending all our money on an unnecessary car loan or having nothing but the bare necessities in

retirement, we can have resources to invest for eternity.

As you do financial planning there are some important considerations that you must keep in mind.

These questions can guide your thought process as you make long-term financial plans.

• If I had all the financial resources I needed, what would I like to do?For most Christians, the answer to this question will be in line with their spiritual gifts. We gain the

most satisfaction from doing the things that God has gifted us to do. As you become experienced in

ministry you will discover things that animate you. These are the things that we would choose to do if

the option was available.


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• What needs to happen to put me in a position to do what God has called me to do?Once you have determined how you can best minister to others and serve God, it is then good to

determine how to get to that place. It is at this point that you begin to think about the resources you will

need. (Since this is a financial study we are limiting our discussion to financial resources even though

we need much more than money to serve God.)

• What can I do financially to prepare myself for this possibility?I have known several people who firmly believed that God was calling them to the mission field;

h o w e v e r, because of major financial blunders they had previously made, they were never able to go. It

is possible to put ourselves in a financial position that prevents us from a fulfilling ministry.

In order to explain this process better let me offer an example. Perhaps you would like to work with

i n n e r-city children. You have had a few opportunities to work with a local mission and you were

e n e rgized and excited about the ministry. You really believe that a regular ministry to these children

would be the best place for you to serve God.

In order to be in a position to do this ministry many things must happen. You need a job that allows

you to have time in the afternoons and evenings when the children are available. It would probably be

beneficial if you lived in or close to the inner-city rather than miles away in the suburbs or out in the

country. A van or a pickup truck might be helpful in such a ministry, to transport people or supplies. As

you consider the ministry, the needs will become obvious.

F i n a l l y, it is important to determine what you must do financially to prepare yourself for this

ministry opportunity. You might need to turn down a promotion that would require nights and weekends

at the office. Perhaps you need to adopt a simpler lifestyle, selling your house in the suburbs and

purchasing a cheaper home in the downtown area.

As you work through this process you will quickly realize that these are all family issues that you are

discussing. Decisions about lifestyle affect everyone in the family and you certainly do not want to

impose your will on others related to you. These decisions impact every area of our lives, not just our

finances. However, if we truly want to be in a position to make eternal investments, we must do the

planning that can make it all possible. Jesus said, Do not store up for yourselves treasures on earth. We

are not in this for ourselves. We serve for the benefit of others.

Principle of eternity

Much of what has already been discussed in this study provides understanding of the Principle of Eternity.

Everything, from our attitude to our actions, must be guided by the truth that we live for eternity rather than

instant gratification.

The familiar story of the Prodigal Son is an example of a young man who was living for the moment.


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And He said, “A man had two sons. The younger of them said to his father, ’Father, give me the

share of the estate that falls to me.’ So he divided his wealth between them. And not many days

later, the younger son gathered everything together and went on a journey into a distant country,

and there he squandered his estate with loose living” (Luke 15:11-13).

The father’s fortune would have eventually belonged to the son. In fact, if he and his older brother

would have continued to work for the father they probably could have increased the value of the estate. But,

this young man could not wait. His impatience led him to demand his rights, which eventually cost him

everything.

It is not an overstatement to say that most of our financial mistakes occur because of our impatience.

We want everything right now. If we are not careful we will find ourselves serving the god of instant

gratification.

Every time I read through the early books of the Old Testament I am amazed at the long-term

perspective of men like Abraham, Isaac, and Jacob. If God told me that I was to be the father of a great

nation, like He told Abraham, I would expect to see my children, grandchildren and great-grandchildren in a

very short period of time.

Although he wavered slightly at times, Abraham never gave up. He refused to adopt the philosophy of

instant gratification and kept looking to the future.

By faith Abraham, when he was called, obeyed by going out to a place which he was to receive for

an inheritance; and he went out, not knowing where he was going. By faith he lived as an alien in

the land of promise, as in a foreign land, dwelling in tents with Isaac and Jacob, fellow heirs of

the same promise; for he was looking for the city which has foundations, whose architect and

builder is God. By faith even Sarah herself received ability to conceive, even beyond the proper

time of life, since she considered Him faithful who had promised. Therefore there was born even of

one man, and him as good as dead at that, as many descendants as the stars of heaven in number,

and innumerable as the sand which is by the seashore (Hebrews 11:8-12).

God sent him to a place which he was to receive for an inheritance yet he never possessed the land. It

was centuries before the land of Canaan ever belonged to the descendants of Abraham. He was one hundred

years old before his promised son was born. However, he lived his whole life as if both the land and the

descendants were a reality.

Too often I find myself living as if the only reality is what I can hold in my hands at the moment. Most

of the things I worry about and strive for will be of no consequence in light of eternity. Yet so much of my

time and energy is invested in the temporal.

If we adopt an eternal perspective it will have an impact on all of our decisions, including our financial

choices. As we grow in our relationship with the Lord Jesus Christ we will be much more focused on

heavenly treasures. It will become more and more difficult to sacrifice for that shiny red sports car rather


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than using the money to take a mission trip to Brazil. It will cause us to pause before running up the balance

on our credit cards before we have considered helping the single mother across the street.

It is not a stretch to say that every financial decision should be made with an awareness of the eternal

consequences. Such a perspective will give us a new appreciation for the responsibility that we have for

being a faithful steward.


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PRACTICAL EXERCISES

Establish long-term financial goals

Work through the questions that were discussed in this chapter under the section Principle of Planning. Once

you determine what you can do to be in a position to pursue your ministry, develop some concrete plans:

1. What is the ministry you want to pursue?

2. Where can you best do this ministry?

3. What is a realistic date for you to be involved in this ministry?

4. What concrete steps are you planning to take to achieve this goal? (I.e. change jobs, relocate, get out of

debt, alter lifestyle, etc.)

5. Develop a timetable to follow in order for you to accomplish your ministry goal.


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APPENDIX


67


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DEBTSList all of your creditors (excluding house and 1 car)

Creditor ________________________________ Creditor ______________________________

Account # ______________________________ Account # ____________________________

Amount Owed ____________________________ Amount Owed __________________________

Payment ________________________________ Payment ______________________________

Address ________________________________ Address ______________________________

________________________________________ ______________________________________

Phone __________________________________ Phone ________________________________


Account # ______________________________ Account # ____________________________


Payment ________________________________ Payment ______________________________

Address ________________________________ Address ______________________________

________________________________________ ______________________________________

Phone __________________________________ Phone ________________________________


Account # ______________________________ Account # ____________________________


Payment ________________________________ Payment ______________________________

Address ________________________________ Address ______________________________

________________________________________ ______________________________________

Phone __________________________________ Phone ________________________________


Account # ______________________________ Account # ____________________________


Payment ________________________________ Payment ______________________________

Address ________________________________ Address ______________________________

________________________________________ ______________________________________

Phone __________________________________ Phone ________________________________


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Account # ______________________________ Account # ____________________________


Payment ________________________________ Payment ______________________________

Address ________________________________ Address ______________________________

________________________________________ ____________________________________

Phone __________________________________ Phone ________________________________


Account # ______________________________ Account # ____________________________


Payment ________________________________ Payment ______________________________

Address ________________________________ Address ______________________________

________________________________________ ____________________________________

Phone __________________________________ Phone ________________________________


Account # ______________________________ Account # ____________________________


Payment ________________________________ Payment ______________________________

Address ________________________________ Address ______________________________

________________________________________ ____________________________________

Phone __________________________________ Phone ________________________________


Account # ______________________________ Account # ____________________________


Payment ________________________________ Payment ______________________________

Address ________________________________ Address ______________________________

________________________________________ ____________________________________

Phone __________________________________ Phone ________________________________


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INVESTMENTS

Investment #1 Investment #4Purpose PurposeCurrent Balance $________ Current Balance $________Goal $________ Goal $________Monthly Deposit $________ Monthly Deposit $________

Account Information: Account Information:Account # Account #Address Address

Phone Number Phone Number


Account Information: Account Information:Account # Account #Address Address



Account Information: Account Information:Account # Account #

Address Address



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Sample Letter to CreditorTo Offer Payment Arrangements

Name of Creditor

Address

City, State, ZIP

RE: Account #

Dear Credit Manager:

As you will note by checking my account, I am delinquent in the payments. Due to [unforeseen

circumstances (or) unwise decisions (choose the appropriate one)], I have fallen behind on this account.

H o w e v e r, I have every intention of paying my debts and request your assistance in making this

possible.

I would like to have your consent to a repayment plan that is realistic and manageable. A f t e r

establishing a budget which includes all of my expenses and debts, I will be able to pay $_____ per

month on my account. I will send the first payment on (date) and will continue making monthly

payments until the account is paid in full.

In order for this plan to be effective, I also request that you eliminate any late fees that are being

c h a rged on this account. It would also be beneficial if you would consider reducing or eliminating the

interest rate. Please consider these requests to allow me to pay off the total amount that I owe.

My family and I have always valued a good credit standing and wish to take all the necessary steps to

maintain this position. Thank you for your cooperation. I will increase payment amounts as my family

budget allows.

Sincerely,

(Your name)


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Money Saving Suggestions Although the 70% designated for Living Expenses may seem inadequate, it is usually sufficient to meet the

needs of most families. If your Living Expenses are too high, it might be that your house or car payments are

more than you can afford. If that is the case, there may not be any other solution than to find a less expensive

house or car.

If your house and car payments are reasonable and you are still having trouble, perhaps you need more

discipline in spending. The following attitudes and actions can help you save money in the important Living

Expense category.

Attitudes• Seek God’s guidance in spending decisions.

• Realize that you do not need everything that you can afford.

• Understand that it is not a “good deal” if you cannot afford it.

• Learn to resist advertising techniques and sales pitches.

• Be able to walk away from things that you do not need.

• Calculate the cost of “little things.” They add up in a hurry.

Actions

• Groceries

➢ Prepare a shopping list according to a menu. Do not purchase items that are not on the list.

➢ Use coupons wisely. They are designed to get you to purchase items that are not on your list. Make

sure you only use coupons for the items you were already planning to purchase.

➢ Compare prices on larger quantities, they may or may not be less expensive.

➢ Reduce the number of trips to the grocery store.

➢ Avoid packaged items that are “ready to serve.” You are paying for someone else to do the

preparation.

➢ Store brands are normally cheaper than name brands and often they are produced by the same

manufacturer.

➢ Do not shop when you are hungry.

• Automobiles

➢ Preventive maintenance is cheaper than making repairs.

➢ Change the oil every 3,000 miles or as directed by the manufacturer.

➢ Rotate tires frequently and keep them balanced and the vehicle aligned.

➢ Find a good mechanic who will do the necessary work without trying to sell you unnecessary

repairs.


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• Insurance

➢ Carry higher deductibles on auto insurance.

➢ Term life insurance is the most inexpensive way to provide protection.

• Utilities

➢ Set the hot water heater at 115 to 120 degrees Fahrenheit.

➢ Insulate the hot water heater and adjoining pipes.

➢ When leaving home for more than 2 days, turn the water heater down or off.

➢ Install water saving shower heads

➢ Drain the water heater regularly to prevent sediment build-up.

➢ Repair leaky faucets and pipes immediately.

➢ Run the dishwasher only when it is full.

➢ Wash clothes in warm water and rinse in cold. Only use the washing machine with a full load.

➢ Clean out the garbage disposal by running a tray of ice cubes through it once a week.

➢ Adjust the thermostat up a few degrees in the summer and down a few degrees in the winter.

• Clothing

➢ Shop carefully for sales.

➢ Be careful about purchasing items based solely on brand names.

➢ Miscellaneous

➢ Do not buy anything over the telephone.

➢ Do not “hang out” at the mall.

➢ Be very careful about purchasing Extended Warranties. On larger items like automobiles, you can

often negotiate the terms and price.


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Warning Signs About InvestmentsI have seen a grievous evil under the sun: wealth hoarded to the harm of its owner, or wealth lost through

some misfortune, so that when he has a son there is nothing left for him. Naked a man comes from his

mother’s womb, and as he comes, so he departs. He takes nothing from his labor, that he can carry in his

hand (Ecclesiastes 5:13-15).

The adage, “if it sounds too good to be true, it probably is,” certainly applies to making investments. If

we are not careful about making investments, there are numerous people who are willing to take our money.

The following observations provide insight into the types of promises made by those selling investments

that often result in loss.

• A promise of a large profit is “practically guaranteed.”

• The profits will be realized in a very short amount of time.

• Little or nothing is said about the possibility of losing money.

• The decision to make the investment must be made quickly, without thorough investigation.

• You are made to feel like they are doing you a favor by allowing you to invest.

• Attractive tax deductions, that may or may not be legitimate, are described as an incentive to invest.

• The person selling the investment speaks of his/her “excellent track record.”

• You know very little about the particular investment and you cannot explain it to your spouse or a

friend.

• The investment will require no effort on your part.

These “promises” offer a warning sign that should cause you to carefully consider the risk before

investing money. Carefully research any investment and seek the counsel of people who are experienced and

trustworthy.


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BUYING CARS

The Biblical concept of surety (Proverbs 17:18) warns us against making a debt that exceeds the value of the

collateral. One example of how many Americans violate this concept is in buying new cars. Many will buy

a new car and put ten percent down and finance the balance for 60 months. When this happens, you would

have a negative amortization on the note for 51 months, meaning the lending institution would own more of

the car for that period of time than you do. Such an approach violates the principle of surety.

There are three ways you can buy a new car (applies to used cars as well) and not break surety.

• First, pay cash for the car. Naturally, this is the best way if you can manage to do so.

• Second, put enough down on the car so that you always own more of the car than the financing

institution. In most cases, that would be 30%.

• Third, borrow against yourself rather than the car. To do this you would need to have a personal

financial instrument, such as a C.D., large enough to do so. Another advantage of doing this generally is

you can get a lower interest rate than you would get by borrowing against the car.

Example for buying cars with cash

Option #1

Getting into position to pay cash for a car is feasible provided one is willing to work hard and make

some sacrifices for five years. Let us assume you buy a new car and finance $20,000 for five years at an

interest rate of 7%. The payments would be approximately $400 per month.

By paying $735 monthly, the car will be paid off in 30 months. Drive the car for the full five years and

continue to make the $735 monthly payment, but now to yourself. Put the payment in an interest-bearing

account. At the end of the five year period, you will have $22,050 plus 30 months’ interest on your money in

savings, which you can add to your trade-in to buy your next car.

Buy the next car with cash and drive it for five years. Pay yourself $367.50 every month, and at the end

of five years you will have $22,050 plus interest earned for the purchase of your next car. You could be on a

cash buying basis for the rest of your life if you would faithfully follow the same pattern of paying yourself.

N a t u r a l l y, discipline is the big key to success. Ask yourself, “Is the first five years of sacrifice worth the

freedom of being on a cash basis the rest of my life?”

Option #2

Buy a car that you can pay cash for, even for as little as $3,000 to $5,000. Take the money you would

have used to make payments and pay yourself. Once you have accumulated a sufficient amount, sell the car

and use the money from the sale, along with the saved money to purchase a more expensive auto. Repeat the

process until you accumulate enough (cash plus value of the current auto) to purchase the car you desire.


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Example:

Step #1 Buy a $4,000 car and drive it for 2 years.

Step #2 Pay yourself $185 per month (the payments on a $4,000 note) for 2 years.

Step #3 At the end of 2 years, sell the car for $3,000.

Step #4 Take the $3,000 plus the money you have saved ($4,654 at 5% interest) and purchase a car

for $7,654.

By saving larger amounts each month you will increase the amount available toward the purchase of

your next vehicle. For example, if you can save $300 per month (instead of $185), it will accumulate to

$7,548 in 2 years and allow you to purchase a $10,000 car.


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PAYING YOUR HOUSE OFF EARLYAll of these suggestions are based upon a 30-year mortgage.

• Suggestion #1

Beginning with the first month, add $100 to the payment, making certain that it is applied as extra

principal. For a $120,000 note at 8% interest, the payment would be approximately $880.52 a

month, excluding the escrow for taxes and insurance. The extra $100.00 would reduce the payment

time approximately ten years. The mortgage, therefore, would be paid off in 20 years rather than 30.

• Suggestion #2

Make arrangements with the financial institution for permission to make a half payment every

fourteen days (note: not twice a month, but every 14 days). This would save some interest by

paying on the principal early, plus one extra payment per year would be made. On a $120,000 note

at 8% interest for 30 years the payment, excluding escrow, would be approximately $880.52 a

month. Such an approach would pay off a 30-year mortgage 8-10 years early.

• Suggestion #3

Get an amortization schedule. It will list on each payment line how much interest and principal is

paid with each payment, plus what the balance on the loan is after each payment (see next page).

On a 30-year loan, the home can be paid for in 15 years by making two payments a month. This is

not as difficult as it may seem, especially the first few years of the payment schedule.

Make your regular payment, which in most cases would be the regular payment on the note plus the

escrow payment. When making payment number one, add to the payment the principal amount on

line two. (See the next page. Note the principal amount on line 2 is $81.06. That is the additional

amount to be included with the first payment.) When making monthly payment #2, look at line 3

for the regular payment and line 4 for the additional principal payment. Be sure to specify on the

payment coupon that the extra amount is to be applied to the principal. Do this every month and the

house is paid off in fifteen years or 180 months.

H o w e v e r, be sure to understand that the final payment (payment #180), is found on line 359 for the

regular payment and line 360 for the extra principal payment. Notice that in the example of a $120,000 note

at 8% for 30 years, the interest on line 360 is only $5.81 and the principal is $871.50. Therefore, the last

payment is almost a double payment. Making a double payment for 180 months would make sense only if

the income increases enough in 15 years to make the extra principal payment possible during the final 5

years of the payoff. More often than not, such would be true and the home is paid for in 15 years.


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AMORTIZATION SCHEDULEfor HOME MORTGAGE

Loan Amount: $120,000Interest Rate: 8.0%Monthly Payment $888.52*Length of Loan: 30 yr(* excludes escrow amount)

1 $120,000.00 $800.00 $80.52

2 $119.919.48 $799.46 $81.06

— — — —

— — — —

180 $92,401.67 $616.01 $264.51

181 $92,137.16 $614.25 $266.27

— — — —

— — — —

359 $1,740.42 $11.60 $868.92

360 $871.50 $5.81 $871.50

Total Paid $316,983.99

Principal Payment # Balance Interest Principle


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HOW MUCH HOUSE CAN I AFFORD TO PURCHASE?

Buying a home is a decision that will affect every facet of your life. It is crucial to make a wise decision so

that you can experience financial success in other areas.

Most lenders will allow a family to devote up to 36% of their gross monthly income for debts, with as

much as 28% allowed for principle, interest, taxes and insurance on a house.

Several factors must be considered in order to determine what you can afford to pay for a house. T h e s e

include down payment, interest rate, terms of the loan and monthly payment. The following formula can

guide you in determining how much house you can afford to purchase.

Cash Available for Down Payment

Example

Cash $ ________________ $12,000

(plus) Stocks, CD’s, etc. $ ________________ $ 3,000

(minus) Closing Costs $ ________________ $ 4,000

(equals) Down Payment $ ________________ $11,000

Amount Available for Monthly Payment

Example

70% of Working Income $ ________________ $26,250

(minus) Living Expenses (excluding housing) $ ________________ $15,600

(equals) Total Available $ ________________ $10,650

(divide by 12) Monthly Payment $ ________________ $887.50


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Use the following chart to calculate how much you can afford to pay for a house. Find the amount you have

available for monthly payments under the current interest rate. The number in the far left column is the

amount that you can afford to borrow. Add the amount available for a down payment to determine the total

price of the house.

7% 7.5% 8% 8.5% 9% 9.5% 10%

$50,000 333 350 367 384 402 420 439

$60,000 399 420 440 461 483 505 527

$70,000 466 489 514 538 563 589 614

$80,000 532 559 587 615 644 673 703

$90,000 599 629 660 692 724 757 790

$100,000 665 699 734 769 805 841 878

$110,000 732 769 807 846 885 925 965

$120,000 798 839 881 923 966 1009 1053

$130,000 865 909 954 1000 1046 1093 1141

$140,000 931 979 1027 1076 1126 1177 1229

$150,000 998 1049 1101 1153 1207 1261 1316

$160,000 1064 1119 1174 1230 1287 1345 1404

$170,000 1131 1189 1247 1307 1368 1429 1492

$180,000 1198 1259 1321 1384 1448 1514 1580

$190,000 1264 1329 1394 1461 1529 1598 1667

$200,000 1331 1398 1468 1538 1609 1682 1755

The numbers are rounded to the nearest dollar. The payment amount does not include taxes and insurance.


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SAMPLE LETTER TO REMOVE PMI FROM THE MORTGAGE PAYMENT

ABC Mortgage Co.

123 Street

Any City, USA

Re: Loan No. XXXXX-XX

I hereby request that the private mortgage insurance (PMI) carried on the above loan be canceled. I

believe that the principal balance of the above loan is less than 80 percent of the current fair market

value of our home.

Please apply the current PMI amount to the principal of the above loan.

Our social security numbers are: xxx-xx-xxx; xxx-xx-xxx

Please acknowledge acceptance of this request. Thank you.

Sincerely,


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COLLEGE FUNDINGPaying for your child’s education is a worthy goal. But for most families, college tuition is one of the larg e s t

bills they will face. It is an investment in the child’s future. The American Council of Education estimates

that the total cost for four years of college (tuition and fees, room and board, and miscellaneous expenses) is

over $100,000 at the average private school and over $52,000 at corresponding public institutions.

Therefore, the key is to start saving early and save regularly.

Here are some questions and answers to commonly asked questions about paying for your children/

grandchildren’s college education.

Where can I obtain information about government financial aid?

The federal government student financial aid is based on financial need; some, in the form of loans, is

available to all families.

For a free copy of “The Student Guide: Financial Aid from the U. S. Department of Education” contact:

The U.S. Department of Education Federal Student Aid Information Center

800/433-3243 www.ed.gov

For information about available aid from your state government, contact your state higher education agency.

How do I find out about what is available from colleges and private organizations?

There are two sources of information:

• The College Board’s College Costs and Financial Aid Handbook

• Peterson’s College Money Handbook

You can search for additional information by using software programs available at many libraries or

guidance centers, or by visiting these WEB sites:

• The Financial Aid Information Page www.finaid.org

• Fast WEB www.fastweb.com

• The College Board www.collegeboard.org


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What other source of assistance could be considered?If you have an employer sponsored retirement plan, find out if loans are an option. Many Credit Union

groups offer this feature in their plans. If you have an IRA, get the details about the new law that waives

the 10% early-withdrawal penalty when you make withdrawals for qualified higher education expenses. If

you have a cash value life insurance policy, check with your insurance representative about borrowing

against the built-up cash value. If you own your home, check into a home equity loan.

F i n a l l y, find out if you’re eligible for the new federal hope credit or lifetime learning credit for

qualified higher education expenses, or the new student loan interest deduction. For more information,

contact the IRS for Publication 970, Tax Benefits for Higher Education. Their number is 800/829-3676, or

their web site is: www.irs.ustreas.gov.

TEXAS TOMORROW FUNDThis fund is a Texas Prepaid Higher Education Tuition Program which offers a unique way to pay for your

children’s future college tuition and required fees by locking those costs in today.

For enrollment forms and a more detailed explanation of the program, call or write:

Texas Prepaid Higher Education Tuition Board

Comptroller of Public Accounts

PO Box 13407

Austin, TX 78711-3407

800/445-GRAD

http://www.window.state.tx.us/


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Providing for a Testimony Beyond Your Lifetime

It is important to structure an estate, even a small estate, so that it provides a continuing testimony of our

faith in God.

When you get to heaven, you want to hear our Lord say, “Well done good and faithful steward. Yo u

were a good steward during your lifetime; you have also been a good steward in death.”

One example of how this can be done is to leave a large portion of your estate to a Texas Baptist

institution, or Texas Baptist mission cause, or a Southern Baptist institution or mission cause. The benefactor

you choose could then be instructed to pay your children or heirs on a monthly basis until they have received

their fair portion of your estate. However, the body of your estate would belong to the Christian cause of

your choice and would have an eternal and ongoing effect for the Kingdom of God. There may be some tax

benefits for structuring your will in such a manner.

In Texas Baptist life, there are those who can help you with this kind of estate planning. For example:

• The Missions Foundation of the Baptist General Convention of Texas, is available to help you. T h e

phone number is 800/558-8263.

• The Texas Baptist Foundation has people who can help you. Their phone number is 214/922-0125.

• Each Texas Baptist institution would have people on their staff for the purpose of helping. Simply

call the institution of your choice and request assistance.

Remember the church of your membership in your estate planning. In the Bible the tithe was not

designated. It was given to the ongoing ministry. A tithe of your estate should be given to the ongoing

ministry of the church that has been such a help and influence in your life. A good Christian attorney could

help you structure your will properly to include your church.


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MAKING YOUR WILLSome day everything you own will pass to others. It could go in ways you never intended, or it could be

drained away by taxes and expenses. However, the government has given you a way to be in charge of what

will happen to your estate following your death. That way is called a will.

Through a will you can command the disposition of your possessions as you desire. In the absence of a

will, you lose the power to command. It is left to others, notably the courts, to dispose of your possessions

according to state laws. If this happens, you could injure greatly those most dear to you.

A tragic fact is that two out of three adults in the United States fail to make a will. In one sense,

everybody has a will. If you don’t provide one, the state — by your default — does so under its statutes of

descent. The question is whether you are willing to settle for this assembly line way of passing along your

property that must ignore individual desires.

Recommended steps to be taken in making and updating a will:

1. De fine your goa l s . What do you want to accomplish for your loved ones, friends, and Christian

causes?

2. I n ve n to ry your estate . Exactly what resources do you have that can help achieve your goals? Do not

overlook anything.

3. Ch oose a Christian atto r n ey you trust. Naturally there is a fee in most cases; but if it is a fair fee, it

is well worth the money. While there is no legal requirement that a will be drawn by a lawyer, you

would be courting trouble not to use one. Most laymen are unfamiliar with the mandatory and

exacting formalities of the law.

4. Ch oose an exe c u tor for your will. Often we choose a friend or a relative for this job. Many times the

oldest child in the family is chosen. However, unless your estate is extremely small and

uncomplicated, it might be better to choose a specialist. Such a person could be a CPA, lawyer, or

bank or trust company person who specializes in such matters. Again, there might be a fee involved,

but a fee that could save money in the long run. Handling even a small estate can be an extremely

technical job, with pitfalls an inexperienced family member might not understand.


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5. Ch oose a safe place to keep your will. A copy of your will should be kept in a safe (example: Safety

Deposit Box at the bank). There should also be a copy kept in a safe place at home. The original may

be left with the lawyer who guided you with the will or with the person named as executor or both.

Caution: If you keep the original copy in a safe deposit box, there might be delay in retrieving it. In

most states, such boxes are sealed upon the death of a person, making it necessary to obtain a court

order to open the box. Texas does not seal the boxes. If you reside outside of Texas, your attorney

should be able to inform you on safe deposit boxes.

It is also advisable to leave with your lawyer and/or executor a letter of instruction to become effective

only upon your death.

6. Keep Your will upd a te d . Wills should be reviewed at least once a year. Some questions you need to

ask:

• Have you had a new child?

• Have there been other changes in your family status?

• Have you moved to a different state in the United States or a different country?

• Has your financial status changed?

• Have the needs of your beneficiaries changed?

• Have you disposed of property bequeathed in your will?

• Have there been changes in the tax laws?

Now let’s ask the big question: Does your “will” express God’s will? Whatever material possessions we

have accumulated during our lifetime really do not belong to us; they belong to God. The psalmist says,

“The earth is the Lord’s, and everything in it, the world, and all who live in it” (Ps. 24:1). We are not owners;

we are stewards responsible to God. We should be good stewards all during our lifetime, but we are also to

be stewards in death. One day we will stand before Him and give accountability of our stewardship. What a

tragedy if He said, “Well done, thou good and faithful steward during your lifetime; however, you failed

miserably as a steward in your death.”

We have a responsibility to loved ones left behind through our death, especially a spouse and/or dependent

children. It is also a privilege to remember our independent children and grandchildren. Such is more a

privilege than a responsibility. But what about God and God’s causes? Should we not be good stewards in

leaving a minimum of a tithe of our estate to God; and what a privilege to do even more, and in many cases

much more, for God at the time of our death by providing properly in our wills.

® Stanley, Thomas J. and Danko, William D, “The Millionaire Next Door”, Pocket Books, p.3.® The figures for this illustration represent the median American family.


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